Paying a deposit to every school?

[iheartflatus]

So I recently rcd good news and I have been accepted. In the acceptance email it says I have two weeks to pay my tuition deposit, declaration of intent and technical standards. I thought that the deadline was April? Does that mean I have to pay deposits and file declaration of intent at every school until I decide which one is the right fit for me? I'm broke!

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[gyngyn]

So I recently rcd good news and I have been accepted. In the acceptance email it says I have two weeks to pay my tuition deposit, declaration of intent and technical standards. I thought that the deadline was April? Does that mean I have to pay deposits and file declaration of intent at every school until I decide which one is the right fit for me? I'm broke!

Deposits to MD schools should be refundable if you decide not to attend. The school you attend counts it towards tuition.

 

[iheartflatus]

They are usually refundable if you decide not to attend. The school you attend counts it towards tuition.

Sweet! Thank you.

 

[Catalystik]

They are usually refundable if you decide not to attend.

AMCAS traffic rules suggest that, except for EDP applicants, deposits be refundable until May 15, April 30 for M.D.-Ph.D. applicants. If the applicant enrolls at the school, the school is encouraged to credit the deposit toward tuition. https://www.aamc.org/students/applying/recommendations/370670/trafficrules-admissionofficers.html

 

[deleted641469]

It will be fun in the spring when you pick your school and start getting $100 refund checks in the mail. It's like government bonds, but with no interest!

 

[Catalystik]

Or like leaving the money in your savings or checking account, where you get a few cents in interest.

 

[tofuuu]

Deposits to MD schools should be refundable if you decide not to attend. The school you attend counts it towards tuition.

This is also news to me. Are there any downsides to accepting multiple offers?

 

[gyngyn]

This is also news to me. Are there any downsides to accepting multiple offers?

Not at this point.

 

[gyngyn]

Or like leaving the money in your savings or checking account, where get a few cents in interest.

Tell me where you bank! I think I'm paying for deposits.

 

[Catalystik]

Tell me where you bank! I think I'm paying for deposits.

I don't think that 4 cents a month (seriously) is worth going through the paperwork to change accounts. Wait, that's almost a dollar every 2 years, so maybe it is! You've made me feel so much better.

 

[darkjedi]

AMCAS traffic rules suggest that, except for EDP applicants, deposits be refundable until May 15, April 30 for M.D.-Ph.D. applicants. If the applicant enrolls at the school, the school is encouraged to credit the deposit toward tuition. https://www.aamc.org/students/applying/recommendations/370670/trafficrules-admissionofficers.html

Aren't the traffic rules for MD deadlines moved up this year so they aligned with MD-PhDs? As I understand it, decisions are supposed to be made by April 30th now. Those traffic rules may be out of date.

 

[Catalystik]

Aren't the traffic rules for MD deadlines moved up this year so they aligned with MD-PhDs? As I understand it, decisions are supposed to be made by April 30th now. Those traffic rules may be out of date.

You are correct. In 2015, the date will change to April 30. Here is the draft:

7) (Change) Each school's pre-enrollment deposit should not exceed $100 and (except for EDP
applicants) be refundable until April 30. If the applicant enrolls at the school, the school should
credit the deposit toward tuition. All schools should not to require additional deposits or
matriculation fees prior to matriculation.
This change aligns the traffic rule date changes and defines a deposit as any pre-enrollment
deposit.

From: https://www.aamc.org/download/364264/data/2014trafficrules.pdf
@iheartflatus You'll have to move your timeline up by 2 weeks.

 

[Ismet]

Be sure to read the school policy though. The AAMC traffic rules are SUGGESTIONS, meaning they're not hard and fast rules. Maybe this school has changed since, but in my app year, Drexel would not refund your deposit if you decided not to attend.

 

[Doctor_Nope]

Be sure to read the school policy though. The AAMC traffic rules are SUGGESTIONS, meaning they're not hard and fast rules. Maybe this school has changed since, but in my app year, Drexel would not refund your deposit if you decided not to attend.

Miami's deposit is non-refundable.

 

[f4reignbeauty]

Aren't the traffic rules for MD deadlines moved up this year so they aligned with MD-PhDs? As I understand it, decisions are supposed to be made by April 30th now. Those traffic rules may be out of date.

I think you're correct. The deadlines have been moved up!

 

[malick1]

Broke or not just be happy many in here wish they had your conflict, because this just mean you will be a DOCTOR someday !! congratulations on the acceptance.

 

[DrOMG]

I was a bit confused with Rosalind Franklin. On the top of the letter of intent it says it is refundable but then when you hover over the 'Agree' button it says the deposit is nonrefundable. Conflicting.

 

[bitternsweetxo2]

I was a bit confused with Rosalind Franklin. On the top of the letter of intent it says it is refundable but then when you hover over the 'Agree' button it says the deposit is nonrefundable. Conflicting.

Did you find out if the deposit is refundable?

 

[karayaa]

I was a bit confused with Rosalind Franklin. On the top of the letter of intent it says it is refundable but then when you hover over the 'Agree' button it says the deposit is nonrefundable. Conflicting.

This is a reasonable reason to contact them and ask directly.

 

[DrOMG]

This is a reasonable reason to contact them and ask directly.

I didn't call them. They're going to get my money either way lol

 

[sazerac]

Could be worse... many DO schools have non-refundable deposits of $2,000. Makes you think twice about accepting that acceptance!

 

[miszfifi820]

so this is kind of on the same topic, what is the upside of holding multiple acceptances if yu already know where you want to go? I know ive heard a couple things about schools offering scholarships if they feel like you are desirable once that information is released in February. if true, how much of an affect does that really have on a scholarship? or this that more of rare situation? if that is true, does 'holding multiple acceptances' mean having received multiple acceptances or having received multiple acceptances AND paying the deposit to hold ur spot to those schools? any info would help.

 

[godawg300]

so this is kind of on the same topic, what is the upside of holding multiple acceptances if yu already know where you want to go? I know ive heard a couple things about schools offering scholarships if they feel like you are desirable once that information is released in February. if true, how much of an affect does that really have on a scholarship? or this that more of rare situation? if that is true, does 'holding multiple acceptances' mean having received multiple acceptances or having received multiple acceptances AND paying the deposit to hold ur spot to those schools? any info would help.

All I know is that in February/March, schools see where you hold acceptances. Otherwise if you decline it they won't see that then.

 

[singergirl18]

Be sure to read the school policy though. The AAMC traffic rules are SUGGESTIONS, meaning they're not hard and fast rules. Maybe this school has changed since, but in my app year, Drexel would not refund your deposit if you decided not to attend.

I believe they do now (I think), but that makes me twice as happy that I withdrew my acceptance in case I am wrong.

 

[singergirl18]

Could be worse... many DO schools have non-refundable deposits of $2,000. Makes you think twice about accepting that acceptance!

That's highway robbery. Applicants pay enough money for MCAT, apps, etc. Applicants shouldn't get screwed over if they want to take the time to make an informed decision between two schools.

 

[malick1]

That's highway robbery. Applicants pay enough money for MCAT, apps, etc. Applicants shouldn't get screwed over if they want to take the time to make an informed decision between two schools.

Well DOs are not far from Caribbean schools on the money making business

 

[singergirl18]

Well DOs are not far from Caribbean schools on the money making business

Ugh I never knew that. Disgusting.