what would happen if I backed out on my ED2 agreement?

<p>From their website:</p>

<p>Students will only be released from the Early Decision agreement if they believe their estimated financial aid package does not enable them to attend. Students must be aware that applying Early Decision will not enable them to compare financial aid packages from other universities. If comparing financial aid packages will be necessary for a student, the student should apply under our Regular Decision program. NYU will still reserve the majority of our admission offers for students applying for Regular Decision, so students should not feel pressure to apply Early Decision if finances are of concern.</p>