Is a deposit in December binding?

[dienepredent]

hi,

This might be a dumb question but let's say you get accepted somewhere December 1st, and they give you a certain amount of time to either make a deposit or decline your spot. If you make the deposit, and then end up getting a post-December interview at one of your top choice schools, is your initial deposit in December binding?

I know you lose the money, but is attending that school binding or can you change your mind if something better were to come along?

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[arkenstone]

you just lose the deposit, nothing is "binding" per se

that's why deposits exist--they hedge the school against you changing your mind . . . because you CAN change your mind

 

[dienepredent]

Ok cool that's exactly what I was wondering. Thanks!

 

[TheDanger]

Do you guys know the window of time a school usually holds your seat for while you decide if you want to put down the deposit or not?

 

[ICUrunning]

Do you guys know the window of time a school usually holds your seat for while you decide if you want to put down the deposit or not?

Depends on the school but I think its usually a week? Check the older class of 2018 school threads to get an idea. I would imagine the window is short because they need to run down their accepted list, in case you don't want a seat. They're not going to wait on you while you twiddle your thumbs.

EDIT: according to the ADEA guidebook, its 30 days if you are accepted on/after December. And 15 days on/after February. This looks universal for most schools.

 

[Daneosaurus]

Do you guys know the window of time a school usually holds your seat for while you decide if you want to put down the deposit or not?

It varies for different schools. At Pitt, they said 30 days, and I am under the impression that is typical.

 

[DentalFox]

The amount of time you have to make a deposit goes down as the cycle progresses. I thought most schools have their first required deposit by Jan. 1. Am I wrong?

 

[sjv]

The amount of time you have to make a deposit goes down as the cycle progresses. I thought most schools have their first required deposit by Jan. 1. Am I wrong?

Usually after the holidays since they are closed, you'll see the exact date when you get your acceptance information.

 

[gobblergiant]

Are the acceptances going to be notified through e-mail, call, AADSAS, or mail?

 

[sjv]

Are the acceptances going to be notified through e-mail, call, AADSAS, or mail?

Typically email or phone call, you may or may not see an immediate status update on AADSAS depending on whether or not the school entered one (it will say "Please check back on Dec. 1..."), acceptance package will come later in the mail.

 

[gobblergiant]

So the time frame in which you have to accept or decline an offer starts immediately after you receive an e-mail or phone call?

 

[sjv]

So the time frame in which you have to accept or decline an offer starts immediately after you receive an e-mail or phone call?

Ya, I mean from when they notify you with the information when its due until the date it is due.

 

[zagguru]

i heard that if you give a deposit to two schools, both schools find out, is this true?

 

[sjv]

i heard that if you give a deposit to two schools, both schools find out, is this true?

Not until April.