Advice needed - Decision date approaching !! Financial aid appeal not ready until after May 1st

Appeal is pending with USC due to one parents loss of job (substantial income) due to Covid situation and the updated or decision on award will not come until the 1st week of May. They instructed us to accept admission and submit the fee waiver so a deposit does not have to be put down just yet since we are awaiting the appeal. They also said my daughter can commit to more then one school?? The admissions couselor also said she could extend the deadline until we receive the results of the appeal. The other is NYU in which after explaining the situation a week ago and the scholarship she already received, an appeal would not be warranted. NYU has stated in a general parents webinar that the May 1st deadline would not be extended. I am not sure what to do here and I don’t want to lose deposit money and I thought it was unethical to commit to 2 schools but difficult to make a decision when the appeal results will not be ready by May 1st from one of the universities. This is my first child in college - any advice?

If NYU (or some other college) is affordable and otherwise suitable, it seems like the obvious choice, because if she commits to USC, then there is a chance that USC’s revised FA will not be affordable, so she would have to start at community college or do something else (gap year) and reapply for next year.

Your offer from NYU appears to be acceptable. Their terms seem clear to me. You have to put down your deposit by May 1st to get this offer.

However, you are still holding out for USC’s offer and maybe using NYU’s package as a negotiating piece. You don’t need to put fisn a deposit to entertain USC’s response. The way I see it, go right on ahead and if their offer is preferable, you let NYU know and lose your deposit , and have to lay out yet another deposit to USC.

Those are your choices. If you feel it is unethical to do as stated above, then the decision is made. If you feel that it is worth pursuing USC, you have that option available to you with the possible loss of money as an outcome. You can certainly ask NYU for an extension before paying the deposit and commuting but don’t be surprised if they refuse to do so.

Plan on losing the NYU deposit but really it seems if your holding out hope for USC, you will need to double commit if not double deposit