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I think most colleges "close" the waitlist for all but a small number of candidates just in case somebody drops out really last minute. That's what Amherst said in their letter, at least - they've completed their class, but they're keeping a few more people on waitlist just in case. I'm still on the summer waitlist but the likelihood of anyone dropping is very low
No false hope intended, but I did just notice this article over in the College Admissions forum, in general, about waitlists: "summer melt" could be "summer flood" due to downturns in the economy. Whether or not it applies to Amherst, I just don't know...it's written as a very generalized article:
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