school refusing to let me take a year out

Hello! long story short, i signed a 6 month contract in a top firm (off cycle internship) beginning early summer and ending in late 2020 in London. I was therefore planning on taking a semester out and delaying my graduation date. For academic reasons my school has told me that they won't let me do so; however I've already accepted my offer. 

What should I do? I'm in the UK so my term starts around mic-october anyway? Should I email them to negotiate ending the contract early? 

Thank you so much for any help I really don't know how to go about it. 

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