Deposit for Acceptances
Once you are offered acceptance into a program there is still one step to be considered officially accepted into that program. They will ask you for a deposit to save your seat in the program. The amount of this deposit varies by program, it could range from $200 to $1,000. You are given a deadline, usually about 2 weeks to a month by which you have to have your deposit paid. If you don't pay the deposit before that deadline you give up your seat and essentially turn down acceptance into that program.
Because some schools will ask you to pay the deposit before you have even heard from other programs you applied to, it is usually possible to ask for an extension. Most programs will give you an extra week and if you express more need they could give you up to a month after the initial deadline. This helps because if you are still waiting to hear from your top school you don't have to spend a bunch of money paying a deposit in another program and hopefully you hear from them within the new deadline.
Tip: Because deposits can be very expensive and each program you are accepted to will ask you to pay one, this is why it is a good idea to have a priority list of the programs you want to get into. If you get accepted into your top school, you may not want to even bother paying the deposits to other schools or even going to the interviews for that matter.
Because some schools will ask you to pay the deposit before you have even heard from other programs you applied to, it is usually possible to ask for an extension. Most programs will give you an extra week and if you express more need they could give you up to a month after the initial deadline. This helps because if you are still waiting to hear from your top school you don't have to spend a bunch of money paying a deposit in another program and hopefully you hear from them within the new deadline.
Tip: Because deposits can be very expensive and each program you are accepted to will ask you to pay one, this is why it is a good idea to have a priority list of the programs you want to get into. If you get accepted into your top school, you may not want to even bother paying the deposits to other schools or even going to the interviews for that matter.