Everything to Know About College Enrollment Deposits
Admitted students submit an enrollment deposit to hold their spot in the incoming class.
Avoid submitting more than one deposit or you'll risk your admission offer.
Students can ask for a deferral or waiver if they experience financial hardship.
Most enrollment deposits are nonrefundable but not binding.
You submitted your college applications, compared admission letters, and chose your college. But before you start shopping for dorm decor, you'll need to submit an enrollment deposit.
Colleges ask for an enrollment deposit in the spring to hold your spot in the fall. But what is an enrollment deposit? Are college deposits refundable? And can colleges revoke your acceptance after you make a deposit?
Our complete guide to college enrollment deposits covers the ins and outs of this topic — including information about deposit deferrals and waivers — and answers some frequently asked questions.
What Is an Enrollment Deposit?
When colleges send you an admission letter, you pay an enrollment deposit to hold your spot. This deposit goes toward your tuition for the first year.
Incoming students can expect to spend $100-$300 on their enrollment deposit, though some schools charge as much as $1,000. Most colleges also make the deposit nonrefundable, meaning if you decide not to attend, you forfeit the deposit.
Read the full article at: BestColleges.com
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