<p>So, I still haven't received any notice of a financial award yet. My decision came out about a month ago and the college is still processing the information. Should I wait a week or two for finaid to come out before accepting the decision? Would there be a possible draw back of accepting the offer for admission now? Would it even matter? Thanks.</p>
<p>No downside to waiting till May 1. Wait for the financial aid info to come in, compare all offers side by side and choose by May 1.</p>
<p>I agree. Although some schools assign housing and orientation dates based on when enrollment fees are paid. If you are set on going to the school no matter what FA says, then pay the deposit (you can always change your mind a forfeit the deposit). Otherwise, wait for the aid. Most schools are getting it out by the 15th.</p>
<p>Thanks. There is no deposit necessary for the school I’ll be attending.</p>
<p>No downside then! As an aside, many schools will refund the deposit if requested in writing by May 1st.</p>
<p>Unless you can afford the school without financial aid, don’t accept until you get the FA package.</p>
<p>“(you can always change your mind and forfeit the deposit)”</p>
<p>I didn’t know this. I thought that after you accepted and paid, you were forced to matriculate there. What do you do? Do you just ignore the school after you give the deposit?</p>
<p>If you accept two schools and send multiple deposits, you risk the chance that the schools may communicate with each other (this does happen sometimes) and you lose both options.</p>
<p>If you accept a school, and tell all the others “No” and then you change your mind, it may be impossible to re-activate your acceptance at one of the others and receive the same financial aid package.</p>
<p>If you accept a school, and tell all the others “No”, and then decide that you don’t want to go to school at all this fall because you are going to do something else with your life for a year or two, then it is a kindness to let the school know that you won’t be showing up. No one can make you go to college just because you accepted an offer of admission. The school would like to know as soon as you take this decision so that any financial aid funds can be given to another student and someone can get off the waiting list if there is one.</p>
<p>If you accept a school, tell all the others “No” and become to ill to go to school this fall, or drop dead suddenly, or are abducted by aliens, you might not be able to let the school know yourself but it would be a kindness for someone else to do so.</p>
<p>If the end of April is fast approaching and one or more of your colleges is moving very slowly on the financial aid, pick up the telephone and ask them how soon they expect to be able to get the information to you. Then, if you still want to leave that option open, call the schools that are still on your list and ask politely if they can accept a response from you after May 1 because you are waiting on all of the aid information before taking your final decision. Be sure to write down who you speak with, their email, phone #, and the gist of the conversation. Then send them an email later confirming the details of your discussion so that you have a written record of the communication.</p>
<p>Wishing you all the best!</p>
<p>Here’s the link to the long thread on this topic in the Parents Forum:</p>
<p><a href=“http://talk.collegeconfidential.com/parents-forum/679131-paying-deposits-two-schools-buy-decision-making-time-2.html[/url]”>http://talk.collegeconfidential.com/parents-forum/679131-paying-deposits-two-schools-buy-decision-making-time-2.html</a></p>
<p>You can’t pay deposits at two schools, but you can pay a deposit at one school to hold your spot and then forfeit that deposit if you decide not to go (of course telling the school you aren’t coming). </p>
<p>This is often done if you are on a waitlist and get selected off the WL by a school you prefer.</p>
<p>In fact, you OUGHT to pay a deposit on a school before May 1 so you have somewhere to go come fall if your waitlist spot never materializes into an offer.</p>