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I applied to a T14 law school EA, was deferred, and now its July 12 and I have still not received a decision. I called the law school today and admissions said the committee is waiting for a recommendation letter from a former professor at that school, which I asked if I could add ten days ago, before making the decision. They received the letter today. My GPA is a point below the ABA's 25% percentile, but I have a really strong resume, essays, and LORS. Is this lack of decision considered a hold? Could a law school really just make a decision about me based on one LOR? Also if it is a hold, do held students usually get waitlisted, accepted, or deferred?

It's probably less about the one LOR being determinative, and more about them wanting to have your complete application before making the decision. There are lots of applicants, they only consider completed apps. Now that they have the LOR, your app is complete and is likely going back into the pile. But who knows if it gets put back where it was in the stack or at the bottom. Assuming its GULC, you may have a shot depending on where you're transferring from. If it's UChicago, it's probably not looking good unless you're at a T20 or something.