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I applied to a new school which lists their deadline as 3/1 and last acceptable lsat as January but also signed up for the March lsat to try and mitigate waitlists. My app is listed as held for future lsat. Will they automatically pull it for review on 3/1? Just tell them to review it now? Anybody knows how does this work?

Usually, schools hold applications for review until they have the new LSAT score. So it depends on how seriously this school takes their set deadline, which is something you can find out by calling/emailing the admissions department.