You can be one of three things...accepted, acceptable, or rejected. Those who are put into the acceptable pool can then be either accepted or continue to be in the acceptable pool (that is what everyone now is waiting to hear...that final decision). If you are accepted you are in, if you are found "acceptable" then I believe they keep reviewing your file, and if you are never accepted, then you are put onto the waitlist in May or whenever a waitlist is formed. That is what I remember being told, but I could be wrong...