It does matter to some schools. We’ve asked. Unless we’re talking about red shirting (for sports), and assuming that you’ve chosen to apply to schools that are a good academic fit, it really comes down to financial aid for a lot of applicants. If you need aid, it’s good to be flexible about which grade you’ll apply for. However, that said, repeating is not necessarily preferable (from the eyes of the AO). They know, better than anyone where/how your student might best fit in. Ask the AO. It’s different school to school. Ask.