Putting down multiple seat deposits Forum

[AceDeuces]

What's the deal? Are seat deposits refundable when I finally pick a school and withdraw? When am I ultimately locked into a choice?

[Yea All Right]

I would assume that most seat deposits are non-refundable (isn't that the idea of a deposit, to protect the seller in case the buyer backs out).

[LET'S GET IT]

No they are not refundable, that would defeat the purpose. You are not committed until the second seat deposit in June. I say this because you aren't supposed to double deposit in the June round (someone correct me if I'm wrong). After that you only have the choice of attending whatever school you put the second deposit down at, or sitting the cycle.

[JustHawkin]

No they are not refundable, that would defeat the purpose. You are not committed until the second seat deposit in June. I say this because you aren't supposed to double deposit in the June round (someone correct me if I'm wrong). After that you only have the choice of attending whatever school you put the second deposit down at, or sitting the cycle.

Unless you get in off a wait list.

[CookieDough]

Also be aware that some schools will no let you double deposit (they will withdraw your application if you deposit elsewhere) so check each school's policy before you do anything.

[Tiago Splitter]

Also be aware that some schools will no let you double deposit (they will withdraw your application if you deposit elsewhere) so check each school's policy before you do anything.

Schools won't know that you've double deposited until May 15. I think depositing to a few places and continuing scholarship negotiations up until at least May 15 is the way to go.

[nedstarksbastard]

Who the hell can afford to put down multiple deposits? I'll be lucky if I can afford one.

[Ricky-Bobby]

Who the hell can afford to put down multiple deposits? I'll be lucky if I can afford one.

HTH

[CookieDough]

Who the hell can afford to put down multiple deposits? I'll be lucky if I can afford one.

HTH

LMAO awesome. If only I were so lucky...

I'm going to call the school and get clarification on it. The language seemed pretty not vague but then again I applied to 7 billion schools and my brain no longer keeps facts straight.

[chargers]

One of the schools I was accepted to gave me a scholarship and said I need to decide whether I will accept or deny the scholarship by the first seat deposit deadline. Should I choose to accept it then I will make a deposit and sign a Scholarship Agreement that says I will be attending that school. I was planning on making multiple deposits, one of them to this school. That Scholarship Agreement makes this impossible, no?

[AceDeuces]

One of the schools I was accepted to gave me a scholarship and said I need to decide whether I will accept or deny the scholarship by the first seat deposit deadline. Should I choose to accept it then I will make a deposit and sign a Scholarship Agreement that says I will be attending that school. I was planning on making multiple deposits, one of them to this school. That Scholarship Agreement makes this impossible, no?

I think there is a "Best Practices" stipulation that says you can accept the scholarship, sign a letter of intent, and then if any new offers (of admission of a waitlist, or a new scholarship offer from somewhere else you were negotiating with), you can accept those without penalty.

[chargers]

One of the schools I was accepted to gave me a scholarship and said I need to decide whether I will accept or deny the scholarship by the first seat deposit deadline. Should I choose to accept it then I will make a deposit and sign a Scholarship Agreement that says I will be attending that school. I was planning on making multiple deposits, one of them to this school. That Scholarship Agreement makes this impossible, no?

I think there is a "Best Practices" stipulation that says you can accept the scholarship, sign a letter of intent, and then if any new offers (of admission of a waitlist, or a new scholarship offer from somewhere else you were negotiating with), you can accept those without penalty.

OK cool, I'll do some research into that. Thanks!

[SPerez]

Deposit policies and practices vary from school to school. There is no across the board rule. Some schools have a single deposit, some have two, some don't have any at all (I think Illinois used to just have a written pledge or something like that). I used to have a refundable first deposit when I worked at Idaho. Here at Tech, I have two non-refundable deposits (but I lowered both of them this year).

AceDuces is correct. Schools shouldn't require you to turn down offers that come after their deposit/commitment deadline.

After May 15, the "overlap reports" with applicant names start coming out. (We get a report without names starting in mid-April.) Schools report the people that have made commitments to them and in return they get a list of what other schools those people have also committed to. Now, a school has to pitch in their list to get a list. For that reason, early on many schools don't participate so the list isn't actually comprehensive. (Some schools have experienced negative impacts from participating early, i.e. poaching of their students. School sees student is also deposited at rival school, or maybe even lower ranked school, tosses them a little money to seal the deal, e.g.) The farther into the summer you get, more and more schools participate until pretty much all of them are.

Because we're not talking about binding ED here, I remind students that we no longer have indentured servitude in this country. You can always back out of a promise if you want to. I don't advise, condone, or advocate that, but I'm not sending the Texas Rangers to someone's house to drag them back to Lubbock and force them to sit in our classes. The "Don't be a jerk" rules apply. Not withdrawing before the first deposit deadline doesn't "take a seat" from anyone. Paying a second deposit at a school, then never letting them know you decided to go elsewhere (despite dozens of Orientation/1L emails) so that they're expecting you on Day 1 DOES take a spot from someone else.

I don't have any problem with someone having two deposits out while they are sincerely trying to make a decision. For example, they can't get time to visit both schools until after graduation or when they can get off of work. Sometimes that means through June. However, the later you get in the summer you get into "s*!@ or get off the pot" territory. Or, more commonly, "I'll just stop responding to their emails and not return their phone calls; they'll get the hint" strategy. (This particular behavior seriously ticks me off.) Every year, I'll have at least one person on my list with more than three deposits out when orientation starts in August.

Dean Perez

[transferror]

Deposit policies and practices vary from school to school. There is no across the board rule. Some schools have a single deposit, some have two, some don't have any at all (I think Illinois used to just have a written pledge or something like that). I used to have a refundable first deposit when I worked at Idaho. Here at Tech, I have two non-refundable deposits (but I lowered both of them this year).

AceDuces is correct. Schools shouldn't require you to turn down offers that come after their deposit/commitment deadline.

After May 15, the "overlap reports" with applicant names start coming out. (We get a report without names starting in mid-April.) Schools report the people that have made commitments to them and in return they get a list of what other schools those people have also committed to. Now, a school has to pitch in their list to get a list. For that reason, early on many schools don't participate so the list isn't actually comprehensive. (Some schools have experienced negative impacts from participating early, i.e. poaching of their students. School sees student is also deposited at rival school, or maybe even lower ranked school, tosses them a little money to seal the deal, e.g.) The farther into the summer you get, more and more schools participate until pretty much all of them are.

Because we're not talking about binding ED here, I remind students that we no longer have indentured servitude in this country. You can always back out of a promise if you want to. I don't advise, condone, or advocate that, but I'm not sending the Texas Rangers to someone's house to drag them back to Lubbock and force them to sit in our classes. The "Don't be a jerk" rules apply. Not withdrawing before the first deposit deadline doesn't "take a seat" from anyone. Paying a second deposit at a school, then never letting them know you decided to go elsewhere (despite dozens of Orientation/1L emails) so that they're expecting you on Day 1 DOES take a spot from someone else.

I don't have any problem with someone having two deposits out while they are sincerely trying to make a decision. For example, they can't get time to visit both schools until after graduation or when they can get off of work. Sometimes that means through June. However, the later you get in the summer you get into "s*!@ or get off the pot" territory. Or, more commonly, "I'll just stop responding to their emails and not return their phone calls; they'll get the hint" strategy. (This particular behavior seriously ticks me off.) Every year, I'll have at least one person on my list with more than three deposits out when orientation starts in August.

Dean Perez

Great info and perspective. I like this guy ^^^

[AceDeuces]

Dean Perez, Thank you so much for that info, that was perfect. Exactly what I was looking for.