<p>Curious: I know 5-1 is the day of comiittment/answer by the student; does anyone know if it ever happens that after a committment to college X, college Y says they will give the student some extra money, and so can the student change to college Y?</p>
<p>Nope. After you put that deposit down, it's set in stone. It's an implied contract unless it includes a formal agreement that spells that out. You KNOW that when you send in that deposit, you're saying, "Sign me up."</p>
<p>Wait, so then how do waitlists work? I have heard of students being accepted off the waitlist as late as midsummer. Surely, a student has sent in a deposit somewhere else by then.</p>
<p>You can change schools. The only problem is that you will lose your deposit money.</p>
<p>so if you aren't ready to decide, you can send in deposits to two schools and be willing to lose your deposit money at one? could one or both schools rescind admissions for a double deposit?</p>
<p>From what I read your admissions can get rescinded for double depositing so that is a bad idea.</p>
<p>Once you make a deposit, you are committed unless you are given a subsequent offer from a waitlist. You still lose your deposit but no ramifications follow.</p>
<p>Making multiple deposits just because you can't decide? That's crazy. If it's a really legitimate reason (say for medical purposes), then you should contact each school's admissions office and discuss your dilemma.</p>
<p>If it's just because you don't know, then you have a lot to learn what it means to be an adult. Be prepared for the consequences. And don't squander your parents' deposit money.</p>
<p>Generally, what is the magnitude of the deposit money? a third or a half or a quarter or a month of the year's tuition and fees? the whole year's tuition and fees?</p>
<p>Is it the desposit money only that is at risk after an applicant says 'Yes, I want to enroll at college X'?</p>
<p>The deposit money is usually a few hundred dollars. If you choose not to enroll you lose your deposit. If you send deposits to more than one school and the schools find out, you lose all deposits and all offers of admission are rescinded; schools do not take kindly to that game.</p>
<p>If colleges learn that students have double deposited for 2 admissions, there's a good chance that both colleges will rescind their admission. </p>
<p>Note: I'm referring to double depositing when it comes to accepting an admission decision. Some colleges, particularly public ones with little housing, will allow students to place a housing deposit months before they have to accept the college's admission. The earlier one places a deposit, the greater the chance that one will get dorm space. However, that's not considered double depositing for admission. If you change your mind or double deposit for housing at another institution, you may lose your housing deposit, but other colleges won't rescind your admission.</p>
<p>As for backing out of a college admission and acceptance because you got a better offer, that's fine to do as long as you don't do that with an ED admission. In fact, colleges have waitlists for exactly this reason. Just be courteous and let the college that you accepted know as soon as possible that you won't be attending. Some person on the waitlist may be delighted to get a space.</p>
<p>As I understand it, desposits for residential space, after a college extends an acceptance, is refundable. My question is: after an applicant accepts the acceptance, what is reversible?</p>
<p>Let's say, under two circumstances, what is reversible?</p>
<p>1) applicant SAYS yes to the acceptance, but no money is sent by applicant</p>
<p>2) applicant SAYS yes to the acceptance, AND money is sent by applicant</p>
<p>Saying yes means nothing. Signing yes is a commitment. Changing your mind after saying yes is fine. Changing your mind after signing yes may not be fine without a reason that the school accepts as valid. Choosing to attend another institution is generally not considered a valid reason. There are some exceptions but in most of those cases, the issues are discussed with the admissions office of the school in question and their agreement is sought on your proposed actions.</p>
<p>As long as one hasn't gotten an ED acceptance or asked a college to hold a space while you take a gap year, both 1 and 2 are reversible. Whether you get your deposit back is up to the college, however.</p>
<p>Colleges really do know and expect that some students will back out after accepting regular admission. Some will do this because they got off the waitlist at a preferred school. Others may simply change their minds.</p>
<p>Note: If one goes on a gap year after getting permission to do this from a college that you've accepted admission to, most colleges will allow this only if you promise to attend the college after your gap year. It's not OK to ask for a gap year and then use the time to apply to colleges that you feel would suit you better. I've seen some Ivy rejects post about doing this, and they risk losing their acceptance from the college that gave them the gap year, and they may also have acceptances rescinded from any colleges that accept them while they are on their gap year.</p>
<p>UChicago says you can get your deposit back if you request it back before May 1. Just thought I'd throw that out there.</p>
<p>Yes, I think that what la montagne says is typical (with the probable exception of students accepted ED). After May 1 is when deposits typically won't be refunded if you change your mind.</p>
<p>A few schools, Harvard for example, do not require deposits. If you accept their offer they take you at your word.</p>
<p>By 5/1 you usually provide a college with two things: acceptance of offer of admission and a housing application. Both may require a deposit but many colleges do not require one for acceptance of offer of admission, just housing. Amount usually is not large, e.g., $100 to $200. School policies differ but for most if you withdraw admission and housing app after May 1, you lose deposit. Most have no penalty for accepting at two different colleges except for forfeiture of depsoit if you choose to attend the other. Most that have forfeiture of deposit say you can get it back, or a portion thereof, if you withdraw acceptance of admission before May 1. Many students accept offers and send housing apps to more than one school before May 1 (example, a safety that may have accepted them early via rolling admission and another that may have accepted them early March) and then make up mind by May 1, after financial aid offers are received. One reason they send the acceptances and housing apps in early is because many colleges require an acceptance of offer of admission before you can submit housing app and then preferences for housing are granted in order of receipt of the housing apps (for some colleges, Auburn an example, if you wait until May 1 to accept offer of admission and send in housing app, you may not get on campus housing at all). There is no college I am aware of that disallows that multiple acceptance situation except for Early Decision admittees. Also, many who accept by May 1 withdraw thereafter if waitlisted elsewhere and get admitted elsewhere and there is no penalty for that except that loss of deposit.</p>
<p>As to orignal question: will a second college after May 1 offer to give extra money to get student to go there although student accepted elsewhere, that is not something likely to occur or that I have heard occurring. Money amounts are generally determined by May 1.</p>