Backing out of a Contract

Is it feasible to back out of contract after it is signed? I have not yet departed for my assignment but am already seeing the error of my ways. The contract is for Hawaiii, unfortunately I was remiss in not checking out rates for car rentals etc. but was assured by my recruiter that the corporate rate would be good. It's over a thousand dollars a month!

That, along with the next to impossible task of finding affordable adequate housing has left me in a quandary. I have already booked my flight, and had every intention of fulfilling this contract, but it looks more and more like it's undoable. The contract was just signed this week and my start date is slated for mid-March. The only verbiage I see relating to penalties missed shift charges at a rate of $29/hr. Could I could conceivably be charged for the entire contract of 36 hrs./wk x 13 wks?