If you’re a financial planner …
“Putting applicants in an admissions holding pattern is standard operating procedure for selective schools. Here’s what your clients need to know about college waitlists.” …
Interesting stats - (University of Michigan, for example):
“Applicants offered a waitlist spot: 11,197
Applicants who accepted the invitation: 3,970
Applicants who were accepted off the list: 36”
… “Schools don’t like to talk about this, but they commonly select students off waitlists that can pay full price. If a family isn’t seeking financial aid, an applicant in his/her letter should emphasize that.” …
http://www.wealthmanagement.com/college-planning/when-clients-teens-are-wait-listed