Acceptance deposit... Huh?

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jbernet1

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Ok, so I just heard from a WesternU student that if they offer me an acceptance, I have to pay an non-refundable 1000$ for them to hold my seat. That means if I have an interview in a week, and IF they accept me the week after that, I have to pay 1000$ before I even interview anywhere else? I sent out 14 secondaries, and am waiting to hear back from 9 still. I thought we had until May or so to decide on things like deposits!

Is this true?!?!?

If there is no way I can afford 1000 bucks (which is definitely the case), that means in two weeks I might be deciding where I am going to matriculate from medical school?

This seems so unfair-- I thought the admissions process was pricey, but I can't afford to hold one 1000 admission, besides 3 or 4... I don't know what I will do. Is anyone else having this dillemma?
😱
 
I have never heard of an admit deposit this high before...most are $100 or so...check to mke sure that it wasnt a typo.
 
I think most DO schools run that high. Some like AZCOM have you pay over the year.
 
TUCOM is $2,000 due in 2 weeks! 😱
 
Originally posted by Lari29
TUCOM is $2,000 due in 2 weeks! 😱
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Thats why I am interviewing in late October, after a few other interviews. I want to make sure if that was the right school for me and I am not fond of the idea having to drop so much money at one time so soon.
 
Originally posted by jbernet1
Ok, so I just heard from a WesternU student that if they offer me an acceptance, I have to pay an non-refundable 1000$ for them to hold my seat. That means if I have an interview in a week, and IF they accept me the week after that, I have to pay 1000$ before I even interview anywhere else? I sent out 14 secondaries, and am waiting to hear back from 9 still. I thought we had until May or so to decide on things like deposits!

Is this true?!?!?
Click to expand...

As I recall, most of the DO schools require hefty deposits in order to hold a seat after being accepted. Some aren't as bad as others - I remember TUCOM requires $2000 within two weeks of being accepted.

Now, even though it was just last year that I was accepted to COMP, I don't recall the deposit having to be sent in that early. I seem to recall a requirement of two $1000 deposits, one some time after acceptance, and one in January/February.

It's one thing about some of the DO schools that I find rather puzzling, as MD schools don't require as much and as early.

*shrug*

The best thing you can do is to ask at your interview.

- Tae
 
Yep, that is how it is. So you have to really think about your choices wisely. You should absolutely put at least one depsoti down and then if you get any more acceptances look over the schools, location, program, ect very carefully before you put down any more deposits.

Out of state deposits are more then instate. Good news is the deposits go towards your tuition.
 
LECOM required $1000 within the first two weeks of being accepted and $500 more the month after the first deposit. It's ridiculous that schools make you pay so much, so like Amy said, you should choose your schools wisely. Hopefully you will luck out and the school you want to go to will be the first one to accept you 🙂
 
LECOM requires $1500 within like 30 days of the receipt of your acceptance letter.

Dr_Sax
 
Wow, so it has changed...That's even worse! :scared: (Spending $1500 wasn't so bad when it was spread over two payments...)
 
That sucks. If you're working and have a family, how can you afford to pay so much? That's unreasonable. The application process cost so much to begin with. I think that is so wrong. I know it's a way of making sure we're committed to their school.

Does anyone know how much UNE requires down?
 
Oh, and I thought I would mention.... when they are talking deposits, most schools are talking cash/check/money order. No credit cards are accepted. At least not at the schools I know about.
 
You have to dish it out sooner or later. When you think about it, $1,000 is about 0.6% of what you'll have to pay for a medical education in this country.
 
yeah but, at least with having to pay it later, you are relying on financial aid and not out of the pocket. For some of us, it's hard to come up with that much money without it impacted us.

I recognize that I'm lucky because my parents have the means to help me, but not everyone else does. So, to me, the price seems too high. 😡
 
Thanks for the many responses..

I am just frustrated because I used to be psyched about early interviews. Now I don't know what I am going to do if the three interviews I have in the next week accept me (which would be great, no doubt) and I will have to gamble on the prospect of getting more interviews (I just was confirmed complete on secondaries at 10 schools!)

It makes me kind-of angry. They will be interviewing through April, so there is a possibility I will get an interview at other places- I am just wondering when in this process the applicants' are taken into consideration. It seems as if they expect people to be dead-set on one school, or rich!
😡

-jbernet1
 
It sucks having to pay those deposits... Last year, I tried to get interviews around the same time by postponing them and being upfront with the schools about having my apps out at other institutions. I think part of the DO school deposit thing relates to the fact that almost everyone applies (other than me) to MD and DO schools. The DO schools want to make sure that you're committed to being an osteopath. AND MD schools are, as a general rule, less expensive. Try to think of it as temporary. You'll get the money back to you when you start school since it's deducted from the first term tuition, but it hurts when you're trying to make decisions about where you want to go.

My belief is that it's better to have a school locked in for next year and possibly be out $1K if a school you prefer admits you than to not pay the deposit and then forfeit your chance at the only sure thing you had. A bird in the hand is worth two in the bush as the cliche goes...

It's hard but my advice is to pay the money... Not being in school next fall because you didn't part with the cash will make you feel terrible...

You got into medical school!! That's a great feeling. Congratulations!!!!!

Originally posted by Amy B
Oh, and I thought I would mention.... when they are talking deposits, most schools are talking cash/check/money order. No credit cards are accepted. At least not at the schools I know about.
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KCOM took deposits last year from credit cards and I believe WVSOM does as well...
 
Correct me if I'm wrong, but at LECOM we got our $1500 back with our first loan check...
 
The other way to look at it is by accepting a place at a school you are taking up a place that someone else wants, so if you are not sure then don't accept the spot. As unfair as it sounds its even more unfair that students who know exactly where they want to go have to wait because someone is holding a spot that they don't really want but are holding it just in case they don't get something else. Some folks mentioned applying to a lot of schools. I know some who applied to 19 schools DO schools. If eveyone held all spots offered to them there would be chaos. $1000-$2000 is a lot of money but it does weed out those who are not sure. I do feel for those who are sure but still don't have that kind of money. I suggest asking the school personally about using a credit card because everthing can be worked out on an individual basis. I am pretty sure TUCOM accepts credit card. Also, you get the full amount of the deposit returned in your first semester. It is a hardship but it really helps with the extra financial burden the first semester brings ie books, instruments, security deposit for somewhere to leve etc... Just my two cents. Sean.
 
I feel like it is a good way to weed out people who are holding multiple acceptances, but I also feel like it is appropriate that anyone applying to med school to hold an early acceptance, even if they would rather go to a school they haven't heard from. Otherwise there is no reason to apply to safety schools right?

I don't want to gamble on getting accpted somewhere else and end up having to reapply because I didn't hold my first acceptance. I think that is the name of the game with rolling admissions. Unless it was like Texas, where everyone hears from all of the schools on the same night, I think it is only fair to hold an acceptance at a safety school. You earned it if you got in (which has yet to happen to me though).

I just feel like 1000 dollars is finacially gouging and somewhat unreasonable, as compared to the 100 dollars that MD schools purportedly charge.

I feel like I see your point, but I think that lower fees would be effective in weeding out applicants that are holding acceptances to a ridiculous amount of schools- I guess I think people should be able to hold an acceptance at one school- without going broke.
 
I have heard many times that DO schools' deposit are very expensive. DO schools generally lack financial support from ourside source. The deposite is one way to make more money to finance the expensive medical education. I think $1000 is worth the reservation you want. Just don't forget to donate some money to the school you attend after your graduation as a proud DO, so future students will be alieviated from the astronomical fees.
 
Originally posted by group_theory
Hmmm

PCOM was only $250 (due by December 15) and nothing else until the bill for tuition came in July.
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Sounds like a good deal for DO schools.
 
yeah the admit deposits are high. One is 2000 another is 500 then 1000. I am not all that surprised. Most schools will give you until dec 15th to make the decision though as long as you interview around this time. after that it shortens though sometimes to 2 weeks.
 
I think that if you are accepcted before Dec 15th you have untill dec 15th to pay. After Dec 15th you must submit your deposit with in a month, and after March with in 2 weeks. I thouht I read this on either AACOMAs or the AOA website.

Someone else here will need to look that up I have to get back to studying for my bio chem final.
 
They just want your money cause they know that most of you well leave them high and dry if you get an MD acceptance. Like meharry the MD school wants $300, which is a lot by MD school standards, non-refundable deposit like in a month after acceptance, cause they know that most likely if you get into some place else you'll go there instead.
 
I know for COMP, even though it's 1000 bucks, it's due in december so you have plenty of time to decide as long as all your interview are about the same time and before december... =)
 
Originally posted by Dr.Dicky
I think that if you are accepcted before Dec 15th you have untill dec 15th to pay. After Dec 15th you must submit your deposit with in a month, and after March with in 2 weeks. I thouht I read this on either AACOMAs or the AOA website.

Someone else here will need to look that up I have to get back to studying for my bio chem final.
Click to expand...

Yeah that's what I thought we were told at the DMU interview.
 
Yeah, the Dec 15th thing goes for WVSOM, too. I also thought that that was universal for DO schools.
 
The only piece of really good advice I got on DO applications was to delay submitting AACOMAS because of this deposit problem. I also am applying MD as well, and I want to be able to compare at the same time instead of having to make an early DO decision.
 
The American Association of Colleges of Osteopathic Medicine (AACOM) encourages each of its member colleges to conduct an application process that is inclusive and professional. The purpose of these guidelines is to allow prospective students to explore their options within the osteopathic medical community, and to give the colleges of osteopathic medicine an ability to process, select and matriculate applicants in a fair and timely manner.

Colleges of osteopathic medicine will publish and follow an application schedule.
Colleges of osteopathic medicine will publish their respective applications procedures and admission requirements.
Colleges of osteopathic medicine may begin extending offers of admission at any time after the interview. Applicants will be requested to submit necessary matriculation documents, including a deposit, according to the following schedule:

1. those accepted prior to November 15 will have until December 14;
2. those accepted between November 15 and January 14 will have 30 days;
3. those accepted between January 15 and June 14 will have 14 days;
4. those accepted after June 15 may be asked for an immediate deposit.

Colleges of osteopathic medicine are encouraged to adhere to reasonable admission fees, policies and schedules.
Prospective osteopathic medical students are expected to provide factual, accurate and complete information throughout the admission process. AACOM believes that this process requires mutual respect, integrity and honesty among the colleges of osteopathic medicine and with prospective osteopathic medical students.

Just did a quick search. I remember reading this at one point. Hope this helps!
 
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