Let's Talk About Multiple Deposits

[Double Bonded]

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Hey Guys,

So I'm starting to prepare for the best - that I'll at least have one acceptance on Dec. 1, but I'm somewhat confused about putting down deposits.

I don't have a lot of time to write this so I'm just going to bullet point it:

-All of the schools I've interviewed at have ~ $1000 non-refundable deposits that must be paid 30 days from Dec 1 to hold a seat
-But I'm still waiting to hear back from my own state schools (which I would preferably go to for cheaper cost, location, ect)
-I'm not sure I'll even get an interview to my state schools w/in the 30 days that the deposit must be paid
-According to http://forums.studentdoctor.net/showthread.php?t=779402 I can hold multiple deposits until April (correct me if I misread/misinterpreted)


Questions:

1. A $1000 deposit for a school that I might not attend seems like a waste of money to me.
Do applicants usually pay the non-refundable deposit if they haven't heard back from other schools knowing that they might not get it back?

2. If I am lucky enough to get an interview/acceptance from a school in my state after Dec 1, do I need to notify the school I gave my deposit to before April?

3. Is there any other reason to put down multiple deposits for Dec. 1 acceptances besides not knowing where you want to go?

 

[invictusx]

I wonder the same!

 

[Ragekage]

According to the dentist I work for, the deposits can be written off as tax deductions for the schools you lose deposits to.

 

[AlbinoPolarBear]

1. Yeah, getting into any dental school is better than not getting in. Those with the "first choice or BUST" mentality greatly decreases their chances of becoming a dentist at all.

Pay that 1k insurance money just in case your first choice doesn't work out.

2. If you get accepted before April 1st into your first choice, why wouldn't you just call your second choice school to tell them that you are attending somewhere else? You don't need that spot anyways, and you've just made some fringe applicant's life. Seems like the only reasonable thing to do.

3. We are going into a lot of debt. I don't think anyone is ******ed enough to throw away multiple thousands for sh*ts and giggles. People usually have an idea where they want to go, and put down only one deposit at a time.

The April 1st deadline to to protect the schools, and make sure they fill their class, therefore maximize tuition revenue for the entering class. It takes a few months for a new student to get ready, with trying to fund loans, and moving to a new place.

The people who hold multiple spots, there are those who are douches who don't know where they want to go, and there are others who forget to inform the the backup school that they've been accepted elsewhere. Either case, the schools need to know ASAP that you're not attending, so they can give the spot to someone else.

 

[Bereno]

1. Yeah, getting into any dental school is better than not getting in. Those with the "first choice or BUST" mentality greatly decreases their chances of becoming a dentist at all.

Pay that 1k insurance money just in case your first choice doesn't work out.

2. If you get accepted before April 1st into your first choice, why wouldn't you just call your second choice school to tell them that you are attending somewhere else? You don't need that spot anyways, and you've just made some fringe applicant's life. Seems like the only reasonable thing to do.

3. We are going into a lot of debt. I don't think anyone is ******ed enough to throw away multiple thousands for sh*ts and giggles. People usually have an idea where they want to go, and put down only one deposit at a time.

The April 1st deadline to to protect the schools, and make sure they fill their class, therefore maximize tuition revenue for the entering class. It takes a few months for a new student to get ready, with trying to fund loans, and moving to a new place.

The people who hold multiple spots, there are those who are douches who don't know where they want to go, and there are others who forget to inform the the backup school that they've been accepted elsewhere. Either case, the schools need to know ASAP that you're not attending, so they can give the spot to someone else.

+1 This is pretty much everything I was going to say lol

 

[amalgamgrillz]

Another reason some people put down multiple deposits: to hold out for a possible entrance scholarship at certain schools.

 

[Demps]

1. Yeah, getting into any dental school is better than not getting in. Those with the "first choice or BUST" mentality greatly decreases their chances of becoming a dentist at all.

Pay that 1k insurance money just in case your first choice doesn't work out.

2. If you get accepted before April 1st into your first choice, why wouldn't you just call your second choice school to tell them that you are attending somewhere else? You don't need that spot anyways, and you've just made some fringe applicant's life. Seems like the only reasonable thing to do.

3. We are going into a lot of debt. I don't think anyone is ******ed enough to throw away multiple thousands for sh*ts and giggles. People usually have an idea where they want to go, and put down only one deposit at a time.

The April 1st deadline to to protect the schools, and make sure they fill their class, therefore maximize tuition revenue for the entering class. It takes a few months for a new student to get ready, with trying to fund loans, and moving to a new place.

The people who hold multiple spots, there are those who are douches who don't know where they want to go, and there are others who forget to inform the the backup school that they've been accepted elsewhere. Either case, the schools need to know ASAP that you're not attending, so they can give the spot to someone else.

👍

 

[MrAvicii]

According to the dentist I work for, the deposits can be written off as tax deductions for the schools you lose deposits to.

i think this is baloney! i dont see how you can write off anything, be careful here so you dont get audited for shady accounting.

 

[Toothshucker]

The schools share their list of students that have deposits in April. If you have multiple deposits, they literally call each other and decide which school gets to contact you to tell you you have x amount of days to decide which school you want to attend. From Uconn admissions director.

 

[crax]

Well, youre going to have to make a choice eventually. Do your research, and think long and hard for < 30 days about it. At this point you should have chosen one school you were accepted to as your best current option, and pay the deposit. Not sure why you would really consider paying multiple deposits, nothing should change in the upcoming four months that would make it worth paying >1 deposit as opposed to = 1 deposit.

TLDR: you will only attend one school, so pick best available acceptance ASAP and only pay 1 deposit at a time.

 

[Kahr]

Well, youre going to have to make a choice eventually. Do your research, and think long and hard for < 30 days about it. At this point you should have chosen one school you were accepted to as your best current option, and pay the deposit. Not sure why you would really consider paying multiple deposits, nothing should change in the upcoming four months that would make it worth paying >1 deposit as opposed to = 1 deposit.

TLDR: you will only attend one school, so pick best available acceptance ASAP and only pay 1 deposit at a time.

I interview at NYU on the 12th of Dec, and MWU AZ on Jan 18th. I'd rather go to MWU (lived in NYC before, prefer the cost of living and weather in MWU, anyway, reasons not important). So what if NYU gives me an acceptance 2 weeks after my interview, I'd have to make the deposit as insurance against MWU not giving me an acceptance, since the 30 days with NYU would be up before I heard back from MWU. It could get more complicated if I get more interviews as well, since they'll end up being scattered about with random replies regarding acceptance/rejection.

I think it all depends on the timing of acceptances and who they're from; for those pre-dec interviewers who may very well get all their acceptances/rejections at the same time, it's easy to do as you said.

 

[hail2pitt]

Well, youre going to have to make a choice eventually. Do your research, and think long and hard for < 30 days about it. At this point you should have chosen one school you were accepted to as your best current option, and pay the deposit. Not sure why you would really consider paying multiple deposits, nothing should change in the upcoming four months that would make it worth paying >1 deposit as opposed to = 1 deposit.

TLDR: you will only attend one school, so pick best available acceptance ASAP and only pay 1 deposit at a time.

I think the multiple deposits really comes into play when you got into a school on Dec 1 (or some other date) but you hear back from your first choice school more than 30 days after. I really don't think people will pay for >1 deposit if both of these schools had offered them acceptances at the same time.

 

[DentalJedi]

I think the multiple deposits really comes into play when you got into a school on Dec 1 (or some other date) but you hear back from your first choice school more than 30 days after. I really don't think people will pay for >1 deposit if both of these schools had offered them acceptances at the same time.

That's the situation I'm in. I don't have an interview at my state school yet, but I've had 4 interviews so far so if I get into any of them on December 1st I'm going to put a deposit in. If I get that magic email after that 🙂xf🙂 then I might end up paying more than 1 deposit.

 

[WhoDatGuy]

1. Yeah, getting into any dental school is better than not getting in. Those with the "first choice or BUST" mentality greatly decreases their chances of becoming a dentist at all.

Pay that 1k insurance money just in case your first choice doesn't work out.

2. If you get accepted before April 1st into your first choice, why wouldn't you just call your second choice school to tell them that you are attending somewhere else? You don't need that spot anyways, and you've just made some fringe applicant's life. Seems like the only reasonable thing to do.

3. We are going into a lot of debt. I don't think anyone is ******ed enough to throw away multiple thousands for sh*ts and giggles. People usually have an idea where they want to go, and put down only one deposit at a time.

The April 1st deadline to to protect the schools, and make sure they fill their class, therefore maximize tuition revenue for the entering class. It takes a few months for a new student to get ready, with trying to fund loans, and moving to a new place.

The people who hold multiple spots, there are those who are douches who don't know where they want to go, and there are others who forget to inform the the backup school that they've been accepted elsewhere. Either case, the schools need to know ASAP that you're not attending, so they can give the spot to someone else.

What screws up this whole process is the Canadian schools. Canadian schools such as U of T don't send out acceptances until April. UWO in the past didn't send out until June. That's probably why people drop out of US school classes in August because they end up getting in off a Canadian waitlist at that point.

 

[thewobblytooth]

put up deposits for safety schools, and pray that your dream school accepts you from now and until you matriculate. That's what I'm going to do. yes, it's expensive, but 2-3g to save your spot at a few schools is better than gambling it away and waiting it out for no schools to accept you. Then from there, make a choice.