Any waitlist developments out there?

Prep School Admissions Prep School Parents
41

<p>Circlemidnight at most of these schools, enrollees become contractually liable for full tuition (or their portion of tuition if they are FA) sometime in June. Up until then, if an accepted student pulls out, the only financial loss is the deposit paid in June.</p>

<p>Some families may accept in April, believing that they will be able to come up with the tuition by June. Sometimes, the reality of actually writing a $40,000+ check may cause some to withdraw. I don’t know what the statistics are for boarding school applicants, but the number of June “withdraws” at our local prep school is generally pretty low (less than 5 for an admitted class in excess of 150). Some years, everyone who makes a deposit in the Spring will enroll in the fall.</p>

42

<p>Emailed an AO…they say that most WL movement occurs in April.</p>

43

<p>It is not over till it is over, but let’s put things in perspective - how many families are going to put down the hefty deposit only to realize they cannot pay the tuition one and a half month later? I agree the window of opportunity is April and it would take more than a leap of faith beyond that.</p>

44

<p>Actually - it’s 4 months later. Putting down a $4800 deposit is one thing. Having a job loss, major illness, or stock crash is another. The remaining $43,000 is due in August - or - if in two installments, $21,500 in August and December. Sometimes you gamble on prosperity and life throws you a curve (job loss, stock crash, home equity falls through, loans denied, etc. illness, etc).</p>

<p>Again - evidenced by the people who’ve asked on these boards what to do since their economic situation has changed drastically since application time. It happens and often for unforeseen reasons.</p>

45

<p>That’s really interesting. Would you say that in this economy, that it is more common for families to drop off because of financial situations.</p>

46

<p>Additional point. If you don’t pay the full tuition at the end of July (i.e. you opt for two payments, then you may be required to pay for tuition insurance which could cost another $800-900 on top of the tuition which you’ll have to pay anyway. This provides an incentive to pay the whole year’s tuition at the end of July. There are other options, but they’re all ultimately higher cost. Sadly there are always going to be a few people who can’t make it happen.</p>