hinhrt

To give a back story, there were two schools that I was interested in, a safe school and another school. I received an offer from my safe school with funding at the end of April and they told me that I would have to give them a decision on their offer within two weeks. During those two weeks, I waited and tried calling the other school in regards to my decision, but to no avail. I ended giving up and accepting my safe school's decision. 
 
Last week (yes, I know it's very late now), the other school finally notified me of my acceptance. I then decided to visit the campus and advisor to get a confirmed feeling of the program and university. Long story short, it's a very nice program and I am considering switching schools. 
 
So arriving to my question and like the title suggests, is it possible to revoke an accepted offer? Will there be any negative repercussions on the student's end (other than losing a deposit fee)? 

To give a back story, there were two schools that I was interested in, a safe school and another school. I received an offer from my safe school with funding at the end of April and they told me that I would have to give them a decision on their offer within two weeks. During those two weeks, I waited and tried calling the other school in regards to my decision, but to no avail. I ended giving up and accepting my safe school's decision. 
 
Last week (yes, I know it's very late now), the other school finally notified me of my acceptance. I then decided to visit the campus and advisor to get a confirmed feeling of the program and university. Long story short, it's a very nice program and I am considering switching schools. 
 
So arriving to my question and like the title suggests, is it possible to revoke an accepted offer? Will there be any negative repercussions on the student's end (other than losing a deposit fee)?