business is business man.
hopefully you can arrange something w/ the school to transfer that seat deposit, but at the end of the day, SMU is a business. the fact that you couldn't get your health express loan is not the schools fault...have you tried w/ a cosigner? the requirements for acceptance of the Health Express is much lower then the Teri.
might be better to wait a year and clean things up.
but remember that, even when those who move you be kings or men of power, your soul is in your keeping alone. When you stand before God you cannot say "but I was told by others to do thus" or that "virtue was not convenient at the time." This will not suffice. Remember that.