Once I've accepted a seat...

[Oogilily]

Once I've accepted a seat and have paid my $500 dollar deposit, I can still reject that seat, right? I know it sounds weird, but I have two schools I haven't decided between yet but I had to accept my seat at one school because of an early deadline. How long do I have before I can no longer reject that seat? I would assume I that I would have quite a few months as they keep a wait list at each school. Any help would be great.

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[JackCM]

Usually you lose around $100-200. For ICO you get back $250 of the $500.

 

[prettygreeneyes]

It depends on the policy of the school. Some will allow you to get all of your money back up to a certain date, and then half back up to another date, and after a certain point - none. Check with the individual school for their policy.

 

[rodomon]

Everyone else seemed concerned with getting your deposit back, but you didn't mention that. So if you don't care about the deposit, you should be able to reject the seat at any time from now until you go to school (and heck, you could even "reject" the school up until the end of your 4th year when you get your degree) unless you signed some sort of binding contract.

Also, considering you'll have $100,000+ debt at the end, a $500 deposit is completely meaningless in the long run and shouldn't in the slightest prevent you from going to the school you want if it turns out to be a different one.

 

[Oogilily]

Thanks everybody! Ya, I don't care about the deposit...I mean $500 is a lot right now, but in the long run not much of a difference. I really just wanted to know if there was any time limit. I may have to wait until May to make my decision (that's when I find out if I get the funding for one school). So I was just wondering if I could reject the seat at the other school as late as May. It looks like I can.

Thanks everybody!

 

[cunikki]

hey; i dont know if you are talking about the wiche money as what you are waiting for. but just in case you are often you do not find out until july/august. i did not find out until after i had started school... so i wouldn't rely entirely on that for your decision