Deposit Logistics

Applying to College
1

Hi everyone,

I’ve been accepted at one school (School A), which I am very happy about and willing to attend, and I’m ready to put my deposit down. However, I have a lingering merit aid appeal at my top choice (School B) still waiting to hear back about (I couldn’t attend my top choice because they didn’t give me enough financial aid).

I’ve called School B and they say they are “still processing” my merit aid appeal and will try their best to get back to me by May 1, although they can’t promise anything. They are apparently swamped and it’s commencement weekend there, so nobody is in the office. If they gave me enough money, I would definitely attend (although it’s unlikely they’ll give me enough). My question is this:

If I put the deposit down at School A, can I still wait an extra day and hear back about merit aid from School B? I’m scared to wait until the last minute to put the deposit down at School A–what if something goes wrong? What if I have to take a gap year because my deposit doesn’t go in? But yet, I don’t want to put the deposit down and then realize 24 hours later I could have actually attended my top choice.

As you can probably tell I’m very panicked. I really don’t want to do something unethical and get both of my acceptances rescinded. Can anyone with any knowledge pertaining to this help?

2

Yes. You can put down a deposit since you are waiting to hear from the FA office. If you get enough aid from School B you can call School A and let them know you won’t be going after all. There is a chance you won’t get the deposit back but that’s a risk.

3

I would definitely have a deposit into School A before/by May 1. Otherwise you risk not having a spot at an affordable college. And as noted above, if School B comes through with more money, you can inform School A you will not be attending and deposit at School B. You should expect to lose your deposit at School A.

4

Could I potentially be in trouble (aka have my acceptances rescinded) if School B comes back with the money and discovers that I’ve already put a deposit down at one school? Would either school rescind my acceptance? Or is waiting for a scholarship appeal a rare case similar to a waitlist situation?

5

No that would not be a problem. School B would recognize that you have to put a deposit in somewhere by May 1. I would say it could be compared to a waitlist situation since you don’t know if you will be able to attend School B at this point.