<p>Hello, I recently paid my deposit for a school, and I'm unsure if it that means I have to go there. A bit after I paid, I was prompted to a Housing Agreement, and I dont exactly know what that is. Is it like the rules you must follow when you're living on a school's campus or is a contract saying you are agreeing to claim a dorm on their campus meaning you will be legally obligated to pay for it. I am reluctant to sign this because I'm waitlisted at a couple of schools that I will probably chose over the school I paid my deposit for if i get offered a spot. Also, I worry because this school is pretty expensive for me and I have to wait for the official Financial Award, but thats in late June. I certainly don't want to sign something I might not be able to pay later. This Housing Agreement has a due date of May 9th ,which is soon, so can you briefly explain what a Housing Agreement is, and if paying a deposit for a school is binding.</p>
<p>a deposit is NOT binding, if you end up somewhere else, you will prob lose the deposit
its verrrryyyy common</p>
<p>same for housing deposit, this is a bit more problematic becuase if you don['t pay, you could lose the chance of housing if your really need it, if you do pay, same as other deposit</p>
<p>these are not contracts, they are place holders</p>
<p>It’s not binding. People cancel all the time – say you get in off a wait list at a different school. However, you do generally forfeit any deposits. Vis housing, see what the housing contract says. </p>
<p>Another thing that doesn’t occur to some. Call the school and ask. Tell them that you’re really excited about going there, but are on a waiting list at another school and find out what happens if you’re accepted. This shouldn’t offend your chosen school or work against you, especially if the reason is financial.</p>
<p>Oh, and if you work in the financial aspects, it’s not absolutely unheard of for a school to look at your file and offer more money – I’m not saying it’s likely, but certainly not impossible.</p>
<p>Schools call it Summer Melt when deposit payers don’t show up when classes start; from experience they know what percentage to expect, and plan for it. Some small schools might refund a deposit for good reason (e.g., hardship). There are no legal issues involved, but deposits may be lost.</p>
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Do you have a preliminary award? It may just be a formality before they finalize it. But if you seriously don’t know what your FA is going to be, then you should not be enrolling there.</p>
<p>If the school’s Net Price Calculator gets accurate (for 2012) input and the preliminary result is acceptable, there should be no surprise.</p>