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And people should also remember that no one is done any favors by being accepted if Adcoms thought that they were at high risk to fail out.
Waitlist management varies by school, but they are often used to "re-balance or restore" some desirable component that was depleted after traffic day. We had a year in which we were left with a lot more men. Everything being equal, women were chosen from the wailist. If we had gotten to the point that there were a big difference in fit, we would have gone back to men.