Location: Enjoying the mountains and sunshine in Colorado
Posts: 3,434
deposit required when accepting an offer of admission?
We are thinking ahead and wondering how the money part of bs works -- particularly when a student accepts a spot that has been offered.
If my son is accepted and offered adequate FA -- what would be expected from us at the beginning of April? I am assuming there is some kind of deposit -- is it a percentage of how much you are expected to pay or a flat amount?
I am sure it differs by school and we would get the most accurate information by calling the school directly -- but I was looking for a general idea of how it works.
We don't want to be surprised and be unable to come up with the cash.
Location: Over the hills and far away...gazing out, along the open road.
Posts: 2,354
I believe that all of the schools that we looked at pro-rated the deposit amount in accordance with the % of the tuition/room/board that we were expected to pay based on their FA award decision.
IIRC, it should be $3K plus/minus $1K deposit due by about April 15. Expect to have a payment plan in place or come up with the remainder of the moneys due by early June. At least that was our experience.
For subsequent years, your deposit will be due by March 1, so they can know how many slots to offer on March 15 to the next class.
Location: Enjoying the mountains and sunshine in Colorado
Posts: 3,434
I think we will plan on having $1000 available to send in by April 10th, hoping he gets in somewhere with enough aid. We have to plan on spending some money for revisits, too -- so I think March/April are going to be very expensive months!
