Deposits to Hold Seat - What Implications?

[Piers]

If you've made a deposit at a school to hold a seat and later you find a school that you like better, does that deposit at all bind you to the first school? If not, is the accepted practice to just notify the first school that you've changed your mind (alas the deposit is not refundable)? Is it commonplace for students to hold more than one seat for a while until the interview flurry is over? It looks like most of the schools tend to give the applicant very little time to return the first deposit to reserve a place after acceptance. Is there a "national" deadline at which time each student has to notify the school of choice and the schools declined?

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[smc927]

If you've been accepted and given a deadline to pay the deposit for your seat than you have to choose. Yes, you can pay the deposit and then change your mind. Like you said, it is non-refundable so you'd lose the money. But the acceptance is not a legally binding contract so you don't have to attend that particular school if you find one you like better, even if you paid the deposit. But they are not going to let you change your mind again - they'll give your spot to somebody else. So if you change your mind in favor of a new school be sure you won't change it back.

I think you are right - schools want to get you to commit early. It is easier on everyone I'm sure. They fill their class and then can move on rather than scrambling at the last minute waiting for students to decide.

Is there some sort of national deadline? I'm not sure what you mean. If you pay your deposit you can withdraw at any time, you just lose your money. So you can go ahead and fork over the money to school A and wait as long as you need to hear from school B. You can even pay to have your spot saved at several schools if you can afford it. Sooner or later you'll have to commit to one or the other.

 

[Karina]

I just sent my deposit to LECOM this past week...it was $1,500, so it was not cheap. But I am garanteed a space in med school next year. I've had one more interview since my acceptance there, and I have 2 more coming up next year...that kind of made me doubt if I should send the deposit or not...but in my opinion is better to be safe than sorry... 😛

Happy Holidays!
Karina

 

[OSUdoc08]

If you've made a deposit at a school to hold a seat and later you find a school that you like better, does that deposit at all bind you to the first school? If not, is the accepted practice to just notify the first school that you've changed your mind (alas the deposit is not refundable)? Is it commonplace for students to hold more than one seat for a while until the interview flurry is over? It looks like most of the schools tend to give the applicant very little time to return the first deposit to reserve a place after acceptance. Is there a "national" deadline at which time each student has to notify the school of choice and the schools declined?

No,

You can pay as many deposits to as many schools as you want. Just make sure to notify the schools you are not attending whenever you make your decision so you can open up that spot for someone else. Keep in mind as well that the deposit is non-refundable. I sent in a deposit to 2 schools, by the way.