Many graduate school applicants face a dilemma when they are accepted by a school and asked to quickly pay a deposit before they have time to receive final decisions from the other schools they have applied to. This becomes even more difficult when the school that has accepted them is not their first choice. This post will help you think strategically – and conscientiously – about how paying a deposit for a school you might not attend may become a part of your application strategy.
For many applicants, it can be stressful when a university applies the pressure of a deposit deadline to reserve a place in the program. This is natural. Applicants who find themselves in this situation can start by politely asking for a payment extension by explaining to the school that you would like to evaluate all of the offers from the schools you have applied to before paying the deposit. Many schools will appreciate your honesty and grant such an extension for a limited period of time, but you should also be prepared for the possibility that the school will stand firm on their deadline. For example, universities in Singapore are known for their strict deposit deadline policies. In such cases, you may have to make the decision whether or not to pay the deposit while you are still waiting to hear from your dream school. So what should you do if you have paid a deposit but eventually receive an offer from your dream school – is it okay to back out and reject the first school? Here are some points to consider when making this decision:
Monetary consideration. Deposit amounts range from a few hundred to several thousand dollars. The deposit will almost certainly not be returned if you back out so you will need to consider whether you can afford to lose this amount of money.
Inspiration and enthusiasm. Does the first school inspire you to learn and are you extremely enthusiastic about studying there? If the answer to these questions is no, then you probably should not attend the school, whether you paid the deposit or not. Graduate school is a huge investment of time and money – this is a decision you must be 100% certain about. Understandably, graduate programs want to fill their classes with people who share their values and are excited to contribute to their communities, so their offer to you assumes that you are excited about joining their cohort.
Ethics. There is an issue about whether accepting the offer of admission from a school and paying the deposit only to back out later is unethical. By comparison, if you paid a deposit for a hotel and then decided not to stay there most people would not consider this an unethical decision. The school still gets to keep your money, so they have gained something. In addition, many graduate school programs put hundreds of applicants on the waitlist for precisely this reason. Rest assured that if you back out, the school will be able to find a qualified and eager candidate to take your place.
In the end, we advise applicants to follow their instincts and go to the school that they like the most, which is a unique decision shaped by each applicant’s own situation as well as the offers they have received, which may or may not include incentives, such as scholarships. Committing to a graduate program is a personal decision, and it is one that might involve paying a deposit as a form of insurance, only to decline that acceptance offer later.
At Transcend Admissions, we encourage all applicants only to apply to programs that they will be excited and proud to attend. If you would like to discuss your application strategy and candidacy, we invite you to schedule a FREE 20-minute consultation with us today.