Depositing just to negotiate

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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Depositing just to negotiate

Postby philliesphanatic » Sun May 03, 2015 10:08 pm

Last edited by philliesphanatic on Mon May 04, 2015 12:13 am, edited 1 time in total.

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Re: Depositing just to negotiate

Postby OhBoyOhBortles » Sun May 03, 2015 10:38 pm

philliesphanatic wrote:Hi guys,

I am pretty set on attending school #1 based on the scholarship that they originally gave me. However, I am still waiting to hear back about a potential raise by the end of this week. I would have to deposit at school #2 that I am using to negotiate with school #1 by tonight. Is there any point in doing so? Does either school know if I do? Does it look poorly to double deposit? Or is it the most beneficial choice because of leverage?

Thanks for the help!

Different schools have different polices re: double depositing. I'd check the policies of the schools in question and then decide from there.

We'd have an easier time answering your other questions with more specific info, but essentially you'll have to decide a) how likely it is that this leverage turns into a bump for you, b) whether you'll be significantly affected by losing this money, and c) whether a is high enough to negate b.

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Re: Depositing just to negotiate

Postby downbeat14 » Sun May 03, 2015 10:57 pm

Tell us the schools and the amounts. Otherwise we can't really give you good advice.

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Re: Depositing just to negotiate

Postby DerekZoolander » Sat Jul 11, 2015 3:06 pm

I did it and it worked out really well for me. Turned several $25k offers into a total of $42k from the school I attended. Obviously was worth the ~$1000 I ended up spending on deposits.

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Re: Depositing just to negotiate

Postby ManoftheHour » Sat Jul 11, 2015 3:36 pm

I turned a 90k offer into a 150k offer. Do it.

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