At what point am I financially obligated to a school? + wait list question

[VITS]

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1. If I accept admittance to school A and pay a $200 deposit to hold the spot, am I obligated to pay for the first semester if I end up rescinding my acceptance to accept a spot at school B? At what point am I obligated to pay for tuition at school A?

2. I've been #1 on the waitlist for four weeks (since the deadline to accept/reject for admitted students) at my top school, which takes 50 people. They tell me no one admitted has dropped yet. Should I be worried? This school doesn't require a deposit to hold an admitted spot, so I think that might be part of it but it still feels unusual.

 

[aroszko]

You are not obligated to pay the tuition for school A, but when their tuition is due you will be billed, so you should find out ASAP when they bill tuition ( also after tuition is paid you usually have some sort of grace period, about a week or two, to drop completely without penalty). BUT if you are trying to get financial aid to the school you need to get your loan stuff figured out before the start of classes.

good luck.

 

[somehowmadeit]

I put down two deposits and ended up going to a third school. In each case, it was simply a matter of calling/emailing and saying "My plans have changed, thank you very much for the opportunity." It happens all the time. Tuition billing doesn't happen until much later in the process, well after you've decided.