What happens if I don’t receive a decision by May 1st since I applied late?
Penn State has rolling admissions.
What should I do though? Commit to another college in the meantime until I hear back?
I am pretty sure, you should make a deposit to your 2nd choice just incase, but let’s wait for an expert to answer you @bodangles please help…
I defer to more knowledgeable posters like @MYOS1634 
But I would probably agree about putting down a deposit somewhere else.
Didn’t you have an acceptance to a branch campus, OP? Did you ask to be reconsidered?
You must deposit somewhere by May 1st. You can wait till then but if you don’t have your Penn State offer then you must deposit elsewhere.