College Deposit Pressure

martina99
Mon, 25 Jan 2010 16:35:21 +0000

I have no problem with a small refundable or non refundable deposit -

But this is wrong:

They sent housing forms this week that state they must be returned within 30 days of their receipt of our deposit. The fine print just above where my son is to sign states that his signature acknowledges a financial commitment to pay for a full year of housing regardless of whether he actually moves in.

So an innocuous deposit is morphing into a committment to pay a full year’s housing whether you matriculate or not.

Also:

College #2’s financial office told me the school wouldn’t send a grant or financial aid offer letter UNLESS they had a deposit on file.

So the way I read this, the college won’t give you a financial aid package without getting a deposit. The deposit requires you to make a housing deposit within 30 days that locks you into paying a year’s housing. And then they’ll let you know what your financial aid package is. Tell me how this isn’t wrong?