Enrollment/Housing deposits for two schools?

<p>I'll explain the situation... there are two schools I'm interested in. I have put down the deposit for School 1 after my acceptance, however, they are now offering a substantially less amount of financial aid than they had originally said. The financial aid office is attempting to find more scholarships, etc. to make up for the deficiency but have yet to get back to me. I am growing increasingly worried because should they not come through with the money, I absolutely cannot afford this school. They know this fact.</p>

<p>School 2 is my second choice school and I was accepted there as well. I am curious as to if I can put down a housing/enrollment deposit (it's combined) to there to secure my spot should this financial aid fall through at School 1. The tuition is much cheaper at School 2 and I would readily go there should School 1 not come up with the aid I need. </p>

<p>However, I have heard that it is "unethical" etc. to place deposits down at two schools. I would most certainly hear back by May 1st about the Financial Aid, but due to my major, these schools prefer to hear back much earlier than that. I would not hold either spot past May 1st, I just want to be safe. I am really only doing this as a precaution to avoid the situation in which I am not able to afford School 1 and then not able to go to school at all because I put my eggs all in one basket. I do not want to jeopardize anything by doing this though. </p>

<p>Any advice?</p>

<p>I assume both of the institutions were rolling / regular decision. If so, you can absolutely put down deposits for both. How do you think wait lists open up in July and August? The only risk you are taking is the loss of one of the deposits, since you’ll be able to matriculate at one of the schools only. If Finaid is a major consideration, I would apply to a few more colleges as well.</p>