Decision Deadline for Attendance?

On UIUC’s website it says May 1 is the recommended date by which you should accept your offer of acceptance. I’m confused whether this is a hard deadline or something which is flexible, and I can’t easily find any clear information. Do I NEED to accept my offer by May 1 or else I won’t be able to attend or can I hold off longer for possible wait list options at other schools? Thanks in advance.

May 1 is the common enrollment deposit deadline for many schools. You are only allowed to deposit at one school. You can stay on other schools’ waitlists even if you deposit at UIUC. However, if you get off the waitlist and choose to enroll there, you’ll most likely forfeit your deposit at UIUC.

Thanks! I think I pieced this together from the rest of the U of I faq, the advice is appreciated.