Cancelling deposit check-how wrong is it

[corinneselene]

I am in a bit of a jam. I received acceptance to a school that requires a $1500 deposit by Monday. The admissions committee for my number 1 choice school meets this Friday so I could possibly have an answer by Friday. How wrong would it be to cancel the check to the first school? I'm not Mrs. Moneybags so $1500, while its a drop kn the bucket for medical school purposes, its a lot at the moment-especially knowing I could have an answer before they even get the check.

Would it be a punk move??

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[Ogmora]

Not a punk move. Happens to a lot of people.

Go for it if you can spare the $$.

 

[maybemed2013]

Call the school which the deposit is due and tell them you are in a financial crunch and need an extension.

 

[abolt18]

Call the school which the deposit is due and tell them you are in a financial crunch and need an extension.

This. I emailed a school last year and they gave me an extension of a month. Good luck!

 

[drcollete]

I think it's unethical to hold a spot in a program you really don't intend on attending. On a less moralistic level, don't banks usually charge fees for stopping payment on a check? The school may deposit the check quickly anyway to avoid any attempts of "refunding" the "nonrefundable" deposit.

Overall, I think it is a bad idea.

 

[coolingglasses]

I think it's unethical to hold a spot in a program you really don't intend on attending. On a less moralistic level, don't banks usually charge fees for stopping payment on a check? The school may deposit the check quickly anyway to avoid any attempts of "refunding" the "nonrefundable" deposit.

Overall, I think it is a bad idea.

Yeah, just call and ask for an extension.

Sending a check and cancelling it seems sketch.

 

[BCAA]

I am in a bit of a jam. I received acceptance to a school that requires a $1500 deposit by Monday. The admissions committee for my number 1 choice school meets this Friday so I could possibly have an answer by Friday. How wrong would it be to cancel the check to the first school? I'm not Mrs. Moneybags so $1500, while its a drop kn the bucket for medical school purposes, its a lot at the moment-especially knowing I could have an answer before they even get the check.

Would it be a punk move??

I had sent a 1k check to a DPM program on a friday, but over the weekend decided that there was no way I would actually do a/the dpm program, and called them on the following Monday, apologized, and asked them to void the check when they do receive it. They did not seem bothered at all and sent the check back to me...

 

[corinneselene]

I think maybe I stated my question wrong because the school wouldn't be holding a seat for me.

I am sending out my check on Thursday to Campbell which would mean they would receive it probably on Saturday. The due date for them to receI've it is Monday.

I will know on Friday if I gain admittance to my state school, Rowan. In the event I am admitted I was thinking that I would email Campbell 'apologizing that I have to deny my acceptance'. They would then receive my check in the mail, which at that point I would have cancelled, and already know that I am not matriculating.

Technically Campbell is not holding my seat for any time over the 30 days they granted to allow me to make my decision. If I don't get into Rowan, I am more than happy to have them take my 1500.

 

[SLC]

I don't think there's anything wrong with canceling a check in this situation, as long as you called Campbell and told them you were going to do it. By the time you called them, they wouldn't have cashed it anyway.

But if you don't hear from Rowan, then obviously you'll have to pay the deposit at Campbell to hold a spot.

No biggie IMO, just keep Campbell in the loop.

 

[TheWeeIceMan]

What is wrong is the fact that schools charge 1500 freaking dollars to save a seat.

 

[rkmoto121]

If they meet on Friday they might send out acceptances the following Monday. In that case it would really help to have gotten an extension. It would really suck to have Campbell cash your deposit on Monday and then get the acceptance on Tuesday...

 

[abolt18]

Oh yeah and I should add, if they're really expecting you to pay that huge amount and won't afford you a week or two, then you shouldn't feel bad about canceling the check at all! As was said, what's ridiculous is the amount they expect you to pay.
Just be honest about not being financially able (just leave out that it's because your finances are committed to another school) to pay and would like an extension. Or if they could allow you to make payments etc. Be flexible and they'll likely, hopefully help you.

 

[ToKingdomCome]

Agreed. Over 1k for most if not all DO schools is insane. especially when they give you more ore less a month to decide

 

[Dmr6186]

Ask for an extension like others suggested. Also, ask if the check needs to be either received on the due date or post-marked on the due date. Pretty sure LECOM schools are the post-mark requirement so maybe others are the same?

It's your money, use it when you need it.

 

[TwinsFan]

It's your money, use it when you need it.

Lmao! (Jg wentwrth guy)

 

[lcucgrace]

I think maybe I stated my question wrong because the school wouldn't be holding a seat for me too.
I am sending out my check on Thursday to Campbell which would mean they would receive it probably on Saturday. The due date for them to receI've it is Monday.

 

[SpartanWolverine]

I think maybe I stated my question wrong because the school wouldn't be holding a seat for me too.
I am sending out my check on Thursday to Campbell which would mean they would receive it probably on Saturday. The due date for them to receI've it is Monday.

I don't understand. How is the $1500 NOT a seat deposit? That's exactly what it sounds like on their website (they just call it an "acceptance fee"). http://www.campbell.edu/cusom/admissions/financial-aid/tuition-costs/. The AACOM booklet calls it the "deposit to hold place in class". If you pay that $1500, you are telling them you want to be a student in their next class.

As other people have said... Call them and ask for an extension on your due date. That should solve all of the problems you presented.

 

[corinneselene]

I would already have denied before they received the check and the deadline even expired. Wouldn't asking for an extension technically be 'holding a seat'?

I am not here to debate semantics, it was more a 'what would you do' posed to the forum. I haven't made a decision regardless, just looking for some advice.

 

[SpartanWolverine]

Deleted post due to pointlessness.