Tuition Deposits and subsequent refunds.

[willrocks]

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Hello,

Generally speaking, if you accept a schools offer of admission and place a deposit on the tuition, then decide for whatever reason not to attend that school, is the entire tuition deposit lost? I understand that most schools state that the deposit is not refundable, however it seems unfair to lose all of that money because you decide not to attend that school. Anybody have any experience with this?

 

[busyizzy]

What's the difference between a deposit and "the entire tuition deposit?" If they're the same, you're referring to the deposit you have to pay to reserve your accepted space at the school .... then yes, your money is gone. There's a reason why it's usually nonrefundable. It's for you to show some commitment. Otherwise, people could send in deposits to ALL the schools they were accepted to, and take their sweet time deciding which one to go to.

It's not really unfair. You chose to make the deposit. You could chose not to invest that deposit money, but you risk (a high chance) of losing your acceptance spot. Weigh your priorities.

 

[confettiflyer]

Yeah it's not really unfair, you paid X dollars to reserve a seat. That's like paying for a plane ticket and then deciding not to fly...schools make decisions based on these numbers. I've seen schools with students declining last minute....that's a ~$30k loss to the school since at some point you can't accept/matriculate a student in that time frame.

Gotta pay to play, consider this a cost of applying to school. Most/all schools will not refund a deposit...it's called a non-refundable deposit for a reason.

 

[aboveliquidice]

Sir, there are no refunds on deposits for pharmacy school.

Your decision to put down a deposit should be a calculated one. Either "A" you have decided you do want to go to the school or... "B" you are willing to pay (and lose) the deposit as an insurance policy.

Truth be told - its a bad decision applying to a school you have no interest in going to. While you may think it is playing on the side of caution - it works out to be 3-4 yrs of living in a bad relationship... It's misery waiting to happen.