<p>I’m sure they wouldn’t actually make you pay that much too. I mean, there’s much scary mythology about it, partially to make sure that ED applicants know what they are getting themselves into. Colleges are supposed to financially penalize you and possibly notify other schools. But I don’t think that actually happens in practice much. Neither can I see swarthmore wasting time by being that vindictive to ED contract-breakers. You break at your own peril, though.</p>