Going about forfeiting a deposit

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Grape Expectations

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IF someone was going to forfeit their deposit and decide to go to another school, does anyone have a tactful way of approaching this? What's a polite and professional approach to avoid burning any bridges?
 
"Thank you for your consideration and for extending this opportunity, but after much consideration, I have made a decision to forgo my offer of admission, and will forfeit my deposit."

or

"It's not you, it's me.

I also hear 'ghosting' is the norm these days.
 
"Thank you for your consideration and for extending this opportunity, but after much consideration, I have made a decision to forgo my offer of admission, and will forfeit my deposit."

or

"It's not you, it's me.

I also hear 'ghosting' is the norm these days.
That was eloquent. Good one, thank you.
 
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Actually, after re-reading it, I used the word consideration twice. You can fix that into something more fitting, or delete the first one.
 
Actually, after re-reading it, I used the word consideration twice. You can fix that into something more fitting, or delete the first one.

Yeah I noticed that too but easy fix. More so I just feel bad about this. It's a hard thought to consider because I really like both schools a lot, but just for different reasons. This has to happen occasionally though right? I really don't want them to hate me.