<p>I was planning on attending UT at Austin, but as a result of last minute personal problems I decided to attend another school. I had a housing contract on file at UT, but when I cancelled it, I was notified that I had to pay a $300 cancellation fee. If I'm not attending UT after all, do I still have to pay? I plan on attending UT in the future, hopefully for graduate school. Will not paying the $300 affect me in the long run?</p>
<p>The university will put a financial bar on your account (which would prevent you from applying in the future), as well as eventually send your account to collections if unpaid.</p>