How to deal with multiple waitlist offers?

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jaydizzle
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How to deal with multiple waitlist offers?

Postby jaydizzle » Tue Mar 08, 2011 2:02 pm

I have narrowed down my final choice between two schools. I will pay a deposit to one of them. However, I am riding out the waitlist at some that are very appealing to me. I have a preference between them. I am wondering what happens if one schools calls me up in April and asks me if I want to go only to have my state school call a month later?

Can I put a deposit at the waitlist school and withdraw at the school I decided on going to and withdraw from this one again if a more appealing waitlist offer comes up? I am only asking this because I am waitlisted at my state school which would drastically reduce my debt as I would be living with my parents. Tuition is much cheaper as well. So, if they were to give me a call in June I might actually attend.

Does this make sense to anyone? Basically, I have a school I want to go to now that I will pay the deposit on right now. School X takes me, and I am wow sweet so I withdraw from the deposit school. Uh oh, my super top and cheap choice accepts me late in the summer. I'm not sure if waitlist offers are binding and if a full deposit is necessary or what. I'm not sure if any of this is against the rules. Some of you will probably think it is unethical. This very well may come down to paying near sticker at a school to virtually paying 1/4 of the cash at another.

Thanks all!

Kind Regards,

Jason

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enron123
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Re: How to deal with multiple waitlist offers?

Postby enron123 » Tue Mar 08, 2011 2:28 pm

Deposits are non refundable, wait until the deadline to put down a deposit

jaydizzle
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Re: How to deal with multiple waitlist offers?

Postby jaydizzle » Tue Mar 08, 2011 2:34 pm

enron123 wrote:Deposits are non refundable, wait until the deadline to put down a deposit



This is what I am doing. I am talking about multiple waitlist offers now. School X accepts you off of the waitlist, but then School Y accepts you later on (you want to go here more since it will save boat loads of money).

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You Gotta Have Faith
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Re: How to deal with multiple waitlist offers?

Postby You Gotta Have Faith » Tue Mar 08, 2011 2:42 pm

jaydizzle wrote:This is what I am doing. I am talking about multiple waitlist offers now. School X accepts you off of the waitlist, but then School Y accepts you later on (you want to go here more since it will save boat loads of money).


That happened to me back when I was applying. Just pay the deposit, and keep the option open by staying on all waitlists that are more appealing to you than the school where you are currently deposited (while knowing that the deposit is non-refundable). If a school lets you off a WL, there is definitely no reason you would be bound to them. If two schools do this, then by all means, you can go to either school. You'll lose the deposit from the first school that let you in off the waitlist, but who cares? Isn't that a small price to pay to get into the school you prefer?

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incase2011
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Re: How to deal with multiple waitlist offers?

Postby incase2011 » Tue Mar 08, 2011 3:06 pm

Would you have to pay a deposit at the first school that lets you off the waitlist (prior to a more preferable school)?

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You Gotta Have Faith
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Re: How to deal with multiple waitlist offers?

Postby You Gotta Have Faith » Tue Mar 08, 2011 4:57 pm

incase2011 wrote:Would you have to pay a deposit at the first school that lets you off the waitlist (prior to a more preferable school)?


If and only if the deadline for a deposit arrives, then yes. Sometimes when letting you off of a waitlist, schools will demand a deposit of some sort. But these deposits, in the grand scheme of things, aren't that big of a deal.

For $500 (hypothetically), you can (1) guarantee your spot in XYZ school that is acceptable to you and if you don't get off the waitlist at ABC school. This is a good safety net. And (2) if ABC school does accept you and you want to go, then losing $500 to XYZ school just isn't that big of a deal.

$500, or whatever the deposit is, is well worth it for (1) security that you will be going somewhere and (2) to know what your future options are. Seriously, just let it go and account for the fact that you might get off of waitlists and lose money like that. For my own part, I got off of two waitlists and, consequently, lost 2 deposits. But it was a very small price to pay to get to the school I'm in now.

jaydizzle
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Re: How to deal with multiple waitlist offers?

Postby jaydizzle » Tue Mar 08, 2011 7:10 pm

You Gotta Have Faith wrote:
incase2011 wrote:Would you have to pay a deposit at the first school that lets you off the waitlist (prior to a more preferable school)?


If and only if the deadline for a deposit arrives, then yes. Sometimes when letting you off of a waitlist, schools will demand a deposit of some sort. But these deposits, in the grand scheme of things, aren't that big of a deal.

For $500 (hypothetically), you can (1) guarantee your spot in XYZ school that is acceptable to you and if you don't get off the waitlist at ABC school. This is a good safety net. And (2) if ABC school does accept you and you want to go, then losing $500 to XYZ school just isn't that big of a deal.

$500, or whatever the deposit is, is well worth it for (1) security that you will be going somewhere and (2) to know what your future options are. Seriously, just let it go and account for the fact that you might get off of waitlists and lose money like that. For my own part, I got off of two waitlists and, consequently, lost 2 deposits. But it was a very small price to pay to get to the school I'm in now.



Thanks! You have been amazingly helpful. I wasn't sure how binding a waitlist deposit was. The only part that sucks is you may lose thousands if you sign a lease early on. When did you get off of those waitlists and what schools? Mind pming me with your stats too? I'm still debating where to put in my initial deposit. I figure waiting to get housing until early July is still doable, maybe not. I really have no idea heh. I just know it's messy to deal with a lease.

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You Gotta Have Faith
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Re: How to deal with multiple waitlist offers?

Postby You Gotta Have Faith » Wed Mar 09, 2011 3:29 am

jaydizzle wrote:Thanks! You have been amazingly helpful. I wasn't sure how binding a waitlist deposit was. The only part that sucks is you may lose thousands if you sign a lease early on. When did you get off of those waitlists and what schools? Mind pming me with your stats too? I'm still debating where to put in my initial deposit. I figure waiting to get housing until early July is still doable, maybe not. I really have no idea heh. I just know it's messy to deal with a lease.


PMed.

As far as the initial deposit, just put it in at the one school you are most interested in attending out of the ones that you have been accepted to. If you can't make up your mind, and can afford to do so, then put it down at two.

Many on here would argue that you can use multiple acceptances at schools to bargain for more money. And there is some truth to this. But I don't know how useful it would be in your scenario. Usually that's used for multiple schools that you have already been accepted to.




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