Hey Amanda,
Im in the same boat as you. I called down to them and asked them how the waitlist works and this is what they said:
In June theyre gonna look at all the applicants in the waitlist pool and re-assess theyre applications based on GPA, DAT scores and the whole works. As if theyre seeing our apps for the first time. Then they rank the applicants based on who they want and start asking around to people if they wanna come. They said that some activity will happen after May 1st because this is when the next big deposit is due, and people accepted to their first choice schools wont pay if they dont want to go to BU. But, they wont start looking into waitlist until the dust settles which is usually in June. This is what I was told, and I talked to different people so Im assuming this is how it works.
If you have any other questions you can PM me. Everyone, correct me if Im mistaken or missed something out. Thanks and Good luck!
Vishal