You got waitlisted at your top school. And you got in somewhere else. Now May 1 is approaching and you have to make a decision about a school you're not sure is your actual first choice.
How Enrollment Deposits Work
When a college admits you, they ask you to submit an enrollment deposit to hold your spot. This deposit typically runs $100–$500 at most schools, and up to $1,000 at some private universities. The vast majority of enrollment deposits are non-refundable.
The Core Question: Would You Actually Go?
Ask yourself honestly: If my waitlist school said they couldn't take me — would I be genuinely happy attending my admitted school?
If the answer is yes — even "yes, I think so" — pay the deposit now. The waitlist becomes a bonus opportunity, not a lifeline.
The Financial Calculation
Scenario A: Pay deposit → get off waitlist → forfeit deposit, enroll at first choice. Net cost: $200. Outcome: first choice school. ✓
Scenario B: Pay deposit → waitlist doesn't move → enroll at admitted school. Net cost: $200. Outcome: good school you secured. ✓
Scenario C: Don't pay → get off waitlist → no deposit lost. Net cost: $0. Outcome: first choice school. ✓
Scenario D: Don't pay → waitlist doesn't move → no committed enrollment anywhere. Net cost: Enormous. ✗
Scenario D is catastrophically worse than any other outcome. Pay the deposit.
What the Waitlist Odds Actually Look Like
- Most selective colleges: 10–15% off-rate in a typical year
- Top 20 schools: often 5–10%, sometimes lower
- Graduate programs (CMU MSCS, MIT, Stanford CS): often 5–10%, highly variable
- Less selective schools: can be 20–30%+ in some years
PrepToDone has waitlist and acceptance data for over 300 schools — check your specific school before making assumptions.
Timeline: What to Expect
Before May 1: Most waitlist movement happens after this date.
May 1–June 15: Primary waitlist activity window. Schools under enrollment targets begin pulling from waitlists.
After June 15: Probability drops sharply. Most decisions made by mid-June.
When you get an offer: You typically have 24–72 hours to decide. Be ready.
Quick Checklist Before May 1
- [ ] Confirmed enrollment deadline for every admitted school
- [ ] Confirmed deposit amount and refund policy
- [ ] Checked waitlist acceptance rate for schools you're waiting on
- [ ] Paid deposit at school you'd genuinely attend if waitlist doesn't move
- [ ] Sent LOCI to waitlist school within 2 weeks of notification
- [ ] Set reminder to send update to waitlist school after May 1
PrepToDone has waitlist acceptance data for over 300 schools. Check your specific situation at preptodone.com.