Double Depositing is NOT a good idea

<p>"By extrapolation, a deposit on a place at a college would seem to be similar. That is, if not for the wording on most reply cards being "I will attend". Thus, there is a strange hybrid of a deposit and a 100% commitment. If it's legally binding, why the $250 up front?"</p>

<p>Good point. It is interesting to note that accepting admittance to Harvard requires no deposit.</p>

<p>Maybe someone has already noted this, but on Harvard's reply card, they reserve the right to withdraw their offer of admission for several conditions, including "if you are holding beyond May 1 a place in the freshman class of more than one college." If a student accepts a place at two schools that have such a clause, he could possibly end up with 0 colleges, rather than a choice. I would suggest that asking for an extension is the safest way to proceed.</p>

<p>My understanding is that you cannot change your mind other than for waitlist notification at another school or for emergency reasons. Some student will defer for one year, as well.</p>

<p>Read the fine print on each acceptance, and make a phonecall. You could get responses as varied as:</p>

<ol>
<li><p>Sure, you can respond by May 8. (which we actually got)</p></li>
<li><p>If you change your mind, you will lose your deposit.</p></li>
<li><p>Sorry, no extensions.</p></li>
</ol>

<p>Some acceptance letters will have boxes to check off, and it could possibly say,"By sending in my deposit I assert that I will attend the U of xyz and will not deposit elsewhere."</p>

<p>It's interesting to note that by sending in the "yes , I will attend" card, and paying the deposit, the university is not bound to accept you. Many will confirm receipt with a reminder that the admission is not final until 8th semester grades are received and approved. Unlike most deposits, It would seem that a college deposit is not binding to either party.</p>

<p>For those few of you who will be applying from abroad, my son did not receive all his financial information from schools he applied to until mid-May because of delayed mail service. Thankfully, he contacted the school he was most interested in and took care of business online via email and by telephone. He had to be proactive in this process. He continued to get various offers and a constant trickle of mail for several weeks beyond May 1st. So when in doubt, use whatever means available to speed the process up.</p>

<p>But doing so is their own, good right. The college has accepted a student upon the knowledge of a certain academic performance; if it turns out that the student starts slacking as soon as his college acceptance does not seem at stake anymore, then he has been accepted under false pretences, and it would be quite rightful to revoke the student.
And anyway, if a straight-A student suddenly starts to get all Cs, it would be quite probable that both schools decide to take back their admission. If it happens at all, I mean, of which I am not quite convinced. When I called my future college to ask if they received my deposit and the card, I also asked them if it was really absolutely definite that I would also be able to attend, and they said that there was no way that they would take their decision back now.</p>

<p>It seems to me entirely logical and even ethical for parents and students to do all in their power to ensure the best outcome in the admissions game. Obviously, colleges want to get their ducks all in a row as soon as possible and that includes reducing the "wiggle-room"that we have to decide - or else the game of musical chairs that drags on into the summer would never end. </p>

<p>The amount of the deposit each school requires varies greatly - from nothing to several hundred dollars. In most cases, the "non-refundable" signal of intent to attend - and reserve a place at the school - acts as a built-in deterrent not to enroll at more than one institution at the same time. Once the card and check are sent in you are telling the school that you have made a choice. If new circumstances arise that lead to a change of heart - fine. Make the phone calls and then sort it all out. As Overseas just pointed out - be proactive and responsible.</p>

<p>The issue here is not if the decision to attend is legally binding or not, rather the consequences and problems that arise when some people try to game the game and hold more than one spot at different schools. Or that is what I always thought double depositing meant.</p>

<p>In some circumstances musical chairs can drag on. My son has a friend who applied to an out of state public. He checked to make sure that they received all materials by phone. He was assured that everything was complete. When decision time came, he did not hear from the school. He contacted them and found out that they did not have his transcript. His hs quickly faxed it. He still has not heard from this school. He was promised a decision last week, and it was not received. Today is May 1. He must deposit at another school, although this oos school is his first choice. He will place a deposit with a private U today, but he is still hoping to get into that oos public university. He is not double depositing, but he is not certain that he will go to the private school either. The private school has become his fall-back school, if he is not admitted to the state school.</p>

<p>Nora-88: I agree that the college has the right to withdraw an admission if a student slacks off. My point was that under the current system, it would seem that students also have the right to change their minds if circumstances dictate. I find it hard to believe that there are thousands of students out there double depositing just for the fun of it. Maybe I am wrong. Anyone have statistics on this?
That being said, thanks for the post caroline.</p>

<p>Most of the double-depositing dilemma could be avoided if colleges would get their admissions and financial aid offers out to the students in a timely manner. They have the applications for 6 months or more before they send decisions, often expecting replies withing two weeks or less. It is really unfair to families who need to compare or appeal financial aid packages. I'd like to see students and their families have more time to make this important decision.</p>

<p>Don't like it, but can't help feeling that colleges are getting what is coming to them....</p>

<p>When finalized financial aid letters don't come out on 01 April, when colleges know that admissions are becoming more erratic and students are applying to more schools, and when they encourage students to apply to boost their numbers, I can't feel too sorry for them.</p>

<p>Back in the stone age when I went to college (late '90s), the top students applied to four or five schools, max. Decision time was easy. The flagship state gave full rides to all students in the top 5% (presuming a few other criteria were met, but it was pretty much a given). I'm not sure when financial aid notification came out, but I don't think it was any of this late-April nonsense. Also, even though college was expensive then ($33k or so for my very expensive private), it was not like today. </p>

<p>Today, students can reasonably expect a college bill to be $200,000 for four years. That's a house. As mentioned above, you can option a house or put down a deposit, but you aren't obligated to buy it. It would be amazing to suggest that someone be required to buy the house within 10 days of finding out they are the buyer with the highest bid, expect them to arrange financing, and expect them to choose between other houses, and then close on day 10. </p>

<p>While I don't think that double-depositing is good and really do like the solution of asking for an extension, let's be real here about who has the ability to make the underlying problem go away. It's a lot easier for colleges to change their policies then it is for students and parents to navigate the minefield. Colleges could switch to rolling admissions (might reduce the number of applications and some of the nuttiness of this process); they could send out financial aid offers on 01 April and not a nanosecond later; they could extend the reply deadline to the 15th of May, knowing that the cost is such a huge decision.</p>

<p>Until then, not feeling sorry for them when students play games. I only feel sorry for the waitlisted students.</p>

<p>Except in the case of missing FA packages, I don't think students will be able to make up their minds any better two months from now. Double depositing is just another form of procrastination. Students should be taught now - and not when they're in the work world - that they must make decisions in a timely and responsible manner. Making informed decisions is a life skill that will serve students well in the future. If they failed to gather enough information during the proscribed time period (and that should have begun BEFORE the application was sent in), then they must do the best they can. Deadlines should be honored.</p>

<p>Colleges often explicitly state that, by sending in a deposit, the student agrees not to send a deposit to another school. Whether the applicant has "sympathy" for the college is not the point. The college does indeed have the power in the relationship since it is offering a service that the student desires. It can create the rules. It is no more unfair than a corporation that requires drug tests, or two weeks' notice, or anything else. It's life.</p>

<p>I wouldn't go so far as to say that double deposits are "immoral" but they ARE unethical. What part of "I agree to attend . . . " is not clear? And if an offer of admission is rescinded because of a double deposit, it is not the fault of the school but of the individual. </p>

<p>As for admission being rescinded, this is rare and only affects the students who completely blow the second half of senior year. When they offer you admission and you accept, they expect you to attend. </p>

<p>Just make a decision and get on with it.</p>

<p>I never really looked at the issue from this point of view... Also, we did sign our reply cards, thus making it a contract. Thus, wouldn't double-depositing be sort of... against the law, because we would breach a contract? Or is that going too far?</p>

<p>waitingfornew,
I appreciated your post & the one that followed, from nora. My own earlier post was also definitely in the spirit of ethics, not "morals," & I do think there is a difference. I agree with you that a decision that is not contingent on some other critical piece of information arriving (such as a fin. aid award from one or more colleges, or some sudden new concern about practical logistics that needs to be determined) should be finalized within the May 1st deadline. Again, where pluses & minuses are almost equally balanced, comprehensively, between or among colleges, dire consequences will probably not result by picking one or another. There are other immanent decisions on the horizon, such as choices of classes & what not; a freshman will not have 6-8 weeks to decide on those other choices, either, after arrival on campus.</p>

<p>Echoing nora (& correcting NMD), my earlier post was in the spirit of your own: wisdom, rather than requirement. Yes, I know there has been shown to be elasticity, 2-way, in the enforcement & time requirements of the "agreements," "intent to enroll" documents, & "contracts," but self-protection argues for caution in the legal realm. As a parent I would feel more comfortable with the student signature arriving a couple of days late (esp. after a phone call & even certified letter to undergrad admissions) than I would with a double-deposit situation. Depending on the institution(s), the latter may be acceptable, it is just high-risk.</p>

<p>Until September rolls around, there will still be more students waiting to get into that institution, most likely, than available spots, meaning no newly admitted student is in a position of superior power with regard to leveraging. And that is despite whatever philosophical position anyone holds as to the ethics that colleges should or have displayed. That grand view of the way the world should be doesn't cut a lot of slack when waitlisted students are panting nearby & sending in extra documents, etc. My own view is to argue for caution for the <em>student's</em> sake. We can only control our own actions, not what institutions do.</p>

<p>Most of the double-depositing dilemma could be avoided if colleges would get their admissions and financial aid offers out to the students in a timely manner. >></p>

<p>I absolutely agree with this. In fact, I think the national candidate reply date should be moved to May 15, instead of May 1, for several reasons. First, a month is simply not enough time to revisit (or in some cases visit) campuses, especially if you have been accepted to several schools in far flung places. The extra time would also give schools time to spread out their "admitted students" on campus events, making it easier for students to attend more than one school's function. Second, the extra two weeks would give some lee way in terms of schools fully communicating financial aid decisions, answering questions, etc. Finally, with kids apparently starting to apply to 12, 15, even 20 schools it is quite possible that more time is needed to sort through the options.</p>

<p>However, I suspect that even if the candidate reply date was moved back to May 15 or June 15 or July 15, there would still be people double depositing, clinging to the last minute to the idea that they should be allowed to take as long as they want to make up their minds. Yes, I know there are exceptions, and delays in the process, but again, there are other options to pursue first before double depositing - call the school and ask for an extension if you're waiting to hear about financial aid, ask for a deferral for a semester or a year if someone in your family has suddenly been diagnosed with cancer and you're not sure you can attend that distant school come fall. Life requires hard choices some times. That doesn't make bending the rules others are following right.</p>

<p>The NACAC, by the way, is the organization that has set many of the practices that surround admissions practices. So, those of you who say the NACAC doesn't matter to you because you are not a member are incorrect: they are the ones who have set the professional standards and practices that the majority of colleges abide by. Those standards protect you/your child, even if you don't like the responsibilities that fall on you as a result of the NACAC standards. The admissions process would be even more of a frenzied wild west if SOME organization hadn't established some standards, so I think it is unfair to bash the NACAC for setting these standards and asking students to meet their responsibilities as well. If anything, we should be glad that this organization exists, even if we don't like some of the rules developed to protect ALL students because we think OUR case is different or special.</p>

<p>If you feel that a college has violated or not lived up to the NACAC standards and principles, try calling the school and mentioning the NACAC S&P to them. I guarantee you'll get quick action because no school wants to be accused of not living up to these standards. And, if their response doesn't satisfy you, then a letter of complaint to the NACAC may not be out of line. In fact, I think it is a very good idea for ALL students and parents applying to college to get familiar for both the NACAC rights and responsibilities for students and the standards and practices the NACAC has for admissions offices -- it will make you a wiser shopper, and smarter about protecting your rights in the admissions process.</p>

<p>But, saying that this organization doesn't apply to you because you aren't a member or didn't have a say in the standards, is a bit like saying it's ok to cheat on your income taxes because you're didn't have a say in the development of the income tax laws. Of course, you seldom hear of folks refusing to take their take refund because they don't agree with tax laws. :)</p>

<p>By the way, the website for the NACAC is <a href="http://www.nacacnet.ORG%5B/url%5D"&gt;www.nacacnet.ORG&lt;/a&gt;&lt;/p>

<p>Carolyn-I think the problem with moving the reply date to May 15th is that on most campuses, the first 2 weeks in May are devoted to finals and graduation. Many colleges do not offer tours those weeks and like to have the campuses insulated from outside distactions for their current students.</p>

<p>Carolyn, do you have any links where the advice to double deposit is given? I'd like to see those threads.</p>

<p><a href="http://talk.collegeconfidential.com/showthread.php?t=181791&highlight=momnipotent%5B/url%5D"&gt;http://talk.collegeconfidential.com/showthread.php?t=181791&highlight=momnipotent&lt;/a&gt;&lt;/p>