Housing deposits?

<p>Well I guess it's time to start talking about deposits! Especially housing deposits. As many kids are starting to receive academic acceptances, but wont' be auditioning for those same schools until February or even as late as March, I'm wondering what people are doing about housing deposits?</p>

<p>I'm afraid that if we wait until we hear back from the auditions, all the "best" housing options will be taken already. But of course we can't afford to pay housing deposits (and it's not allowed, anyway) at several favorite schools in hopes that D gets into the programs.</p>

<p>Just curious how people have handled it in the past and how it worked out?</p>

<p>Actually, from my understanding (and I'm just a mom/survivor!!) there is a difference between HOUSING deposits and the deposit that secures your kid's admission. (That's the one you can't send to more than one school.) Read each school's policies carefully -- many will refund (part or all) of a housing deposit if notice is given by a certain date. </p>

<p>Last year, d had academic acceptances from schools, which triggers those pesky housing notices. She perused the sites, saw which had guaranteed housing, which would hold honors housing for honors students, etc. I think I remember sending a HOUSING deposit to U of Oklahoma, as they had more students than beds (she did not attend there, we "donated" the thirty bucks).</p>

<p>I would recommend you call each strong contender school's office of residence life and housing and ask what their recommendation is. </p>

<p>Happy audition year and break a leg!</p>

<p>We sent in early housing deposit to the University of Texas - Austin (D's safety) because we know that they run out of housing quickly. But you need to research each school and see if it is needed - some guarantee housing for freshmen so an early deposit is not needed.</p>

<p>I wish we would have put down more than one deposit, truthfully, because S's final notification came in late March, and his decision waited until Mid-April, (very close to the May 1st decision deadline). He was guaranteed housing, but he got the tail end of the choices. And that "pecking order" stayed with him for room selection for the next year's dorms, too. I wouldn't put out 10 deposits, but I would have done his top 3 if I had to do it again. (All schools said it was refundable if you cancelled by May 1)</p>

<p>@ Mommafrog, you can definitely send in as many deposits for college admission as you like as long as you know what their refund policy is. My D sent in hers to about 5 schools last year and then received refunds to 3 of them no problem. Housing is a totally diff policy. You will need to read each school's website to understand that. Indiana was the only school that wouldn't give back the admission's deposit.</p>

<p>@ Lulu63...I'm just a mom (and thankfully past the hurdle of undergrad admissions/auditions w/my d), but my understanding is that an admission deposit is a commitment to attend, and that, if it's a Common App school, your kiddo electronically signed that he/she will not deposit at more than one school. Technically, admissions offers can be rescinded. From NACAC's website: "The survey also found that 2.3% denied enrollment because multiple deposits were placed." </p>

<p>The</a> Answer Sheet - Is it okay to double deposit at colleges? Part 1</p>

<p>I would check very carefully with each college regarding their policies on any kind of depositing. (Tuition and housing.)</p>

<p>Well my D was able to give deposits to 5 schools and if you read the fine print for all of them before doing it you will know their policy on refunds. The only bad side is you end up getting all the mail from them constantly. Like I said only Indiana didn't give back the deposits. I'm just a mom too. :)</p>

<p>So my thinking is that the thing to do is send a deposit into ONE school that you KNOW you want to attend (once you hear back academically and while you're waiting on the MT decisions). Then once the MT decisions come in, if you get MT acceptances at other schools that you like better, you can withdraw your acceptance to that one and deposit at the one you like best.</p>

<p>Since this started as a discussion of HOUSING deposits -- I'd say to check with the schools and see what their policy is regarding refunds, if that's important to you (some schools ask for only $30 or so, so "donating" that amount wasn't a big loss.) Some colleges don't guarantee housing and/or place kids in "first come, first serve" for dorm choices, so there's no issue there...if your kid would attend if accepted to the program, and needs a place to sleep, send in the housing bucks!</p>

<p>The problem is with ADMISSION deposits -- those are the ones that can cause a problem. True, not all schools follow the NACAC policies, but if your kid submitted through Common App (Common Application Schools include several traditional MT powerhouses, such as Baldwin-Wallace, NYU, Otterbein, Pace, UMich, among others), your kid electronically signed that he/she will not double-deposit (which is putting an admissions deposit down at more than one school), and if they do so and are found out, there is a risk of an admitted student's offer being rescinded by the college. These are MT programs within the larger college/university structure, and some of the rules are beyond what the school of theatre can override. Now, can you send in deposit A to a school that will refund, ask for it back before you send deposit B to the next school on the list? Well, I suppose so...but the other thing about admissions is that schools are to hold an offer for you until May 1 so you have time to weigh all your offers and financial aid packages, if that makes a difference in the decision process. Schools may pressure you to decide sooner, as they'd love to have their class decided ASAP, but May 1 is the deadline. If you're holding out for an artistic decision, and wouldn't attend a school that you were academically admitted to in another major, there's really no reason to rush an admissions deposit -- no one can take the slot. Besides, I don't know about you, but plopping several hundred to several thousand dollars in admissions deposits to all of my kid's academic admits, and trying to keep straight who would give it back, and by when and how...I had enough spreadsheets going!</p>

<p>More reading/thinking material regarding depositing: <a href="http://talk.collegeconfidential.com/parents-forum/183706-double-depositing-not-good-idea.html%5B/url%5D"&gt;http://talk.collegeconfidential.com/parents-forum/183706-double-depositing-not-good-idea.html&lt;/a&gt;&lt;/p>

<p>One deposit in at a time is "legit," I suppose, but again, I don't see the rush while you're waiting for the real reason to choose a school -- the artistic admit. It's a long hard wait, I know. D had a lot of nice academic admits and scholarship offers by this time last year, and was getting some calls asking her to commit to those schools. She sweetly reminded them she was still waiting on the artistic results (heck, she hadn't even finished auditions by this point) and financial aid packages (and you can't even start FAFSA until January). So, no rush. No one is going to steal your kid's seat. Their bed -- that's another manner, and the original question of this thread -- just keep housing and admissions deposits separate in your head (I know -- it's a head-spinning year!) and you'll be fine.</p>

<p>oooh...to clarify MY earlier post, I was TOTALLY talking about more than one HOUSING deposit...simply reserving a dorm space.</p>

<p>I cannot see any reason why you would need to put down more than one ADMISSIONS deposit. Your spot at that university is reserved until May 1st and there is no need to hurry yourself or put out a lot of money. </p>

<p>There are a couple of threads on this forum about MT DEPARTMENTS pushing you to commit before May 1st...and you may want to read those as well. But here again, you should NOT feel pressured to do so...your acceptance guarantees you a spot until May 1st. Of course, if you know that you are definitely not interested in attending a school, then letting them know as soon as possible benefits a lot of people...the program can move onto their alternate list, they can offer your scholarship money to someone else, etc. but there is absolutely no risk in waiting until May 1st to make your decision if you so choose.</p>

<p>Yes, I WAS talking about housing deposits! Somehow we got sidetracked onto admissions deposits. However at some schools there is no distinction between the two. You send one check that covers both.</p>