Making a re-decision after May 1st

Most waitlists from what I have seen give you their decision as late as July, which is beyond the May 1st deadline to make the decision for what college you are applying to, so how does that work? If I make a decision to college X before May 1st but then in July college Y accepts me off the waitlist, then is it possible to ‘revoke’ your college X decision?

You SIR to a college by May 1. If you are accepted off the waitlist at the other college, you can decline the first college and enroll in the second college. You will however lose any enrollment deposits or fees. Housing fees are usually refundable by a specific date.

So all I lose then is the money I spent on fees?

Most likely. If you have to put a housing deposit down, check the deadline date to make sure you can get it refunded.

Alright, thank you very much for the quick replies.