<p>It depends if you have other schools you are pretty sure you will get into and would rather go to (non-audition BA schools with theatre). Deposits are typically refundable up to May 1 so you can get your money back after you hear from other schools. Getting a deposit in sometimes gets you better housing because it is done on a first-come first served system. My d was academically accepted at Elon so we sent in a deposit in case she does not get into any of her BFA programs since she may want to go there for a BA in theatre. We can get it back as long as we notify them by May 1 so nothing to lose (just $500 to for over now!) Read the fine print to make sure it is refundable!</p>