The Ivy Coach Daily

May 2, 2024

Double Depositing: What Is It and and Why You Shouldn’t Do It

Don’t make the mistake of double depositing at colleges (photo credit: Eustress).

Previously Published on April 1, 2010:

May 1, 2024 marked National College Decision Day. It’s the day students who earned admission this past admissions cycle were required to inform the school they intend to attend of their decision to enroll. Of course, some students learned of their admission several weeks ago, others just four weeks ago. But when the clock strikes May 1, 2024, decisions are due to colleges.

Yet our readers might be amazed that after all this time, some students still haven’t decided where they wish to spend their next four years. Some of these students consider double depositing. So, what exactly is double depositing, and is it okay to double deposit?

What Double Depositing Means in College Admissions

When students double deposit, they tell two different schools they intend to enroll in. Now, it should be noted that some schools have moved away from requiring deposits while others maintain relatively small deposits (often below $500).

As much as college tuition costs have surged in recent years, deposits have remained relatively stagnant. In fact, many schools have done away with deposits altogether. Only Columbia University and Cornell University currently require deposits ($200 for Columbia and $400 for Cornell) among the Ivy League schools. Hey, Columbia has to find the money to address the damage caused by the pro-Hamas campus unrest somewhere!

In any case, while the term double depositing might not apply to all schools since some schools no longer require deposits, the principle of saying yes to two different schools remains the same. Students still do it.

Double Depositing is Wrong and Can Lead to the Revocation of Admission

But just because some students double deposit doesn’t make it right, and it doesn’t mean these students aren’t risking their offers of admission. By saying yes to two different schools, students are actually violating the Statement of Students’ Rights and Responsibilities in the College Admissions Process as established by the National Association for College Admission Counseling. If either of these schools were to find out that a student said yes to two different schools, they have every right to revoke their offer of admission.

Now, some students don’t think colleges will find out if students double deposit. But it happens. Fellow students talk. School counselors often speak with admissions officers. College admissions officers at different universities might be having dinner together next week. You just don’t know. To take such a risk this late in the college admissions process — particularly when students will have no recourse since they’ll already have said no to any other schools that offered them admission and the list of colleges with upcoming application deadlines isn’t exactly impressive — is foolish.

Students Should Commit to One School and One School Only

At the end of the day, students can only attend one college. They’re going to have to decide on their choice at some point. So, they might as well not prolong the agony and decide by the specified deadline. This way, they won’t foolishly jeopardize their hard-fought offers of admission.

If students need help deciding which college they should attend among the schools that have offered them admission, fill out Ivy Coach‘s complimentary consultation form, and we’ll be in touch.

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