Admitted students put down an enrollment deposit to hold their spot in the incoming college class. Learn more about deposits, deferrals, waivers, and refunds.
Genevieve Carlton, Ph.D. Genevieve Carlton, Ph.D. Read Full BioAn award-winning historian and writer, Genevieve Carlton, Ph.D., has published multiple scholarly articles and a book with the University of Chicago Press. She currently works as a writer and consultant. She holds a Ph.D. in history from Northwestern.
Updated on August 20, 2024 Will Baker Will Baker Read Full BioWill Baker has worked as an editor and outreach strategist with BestColleges. He is passionate about providing students with the means to make informed decisions about their education. In his free time, he plays music, spends time with his sisters, a.
Reviewed by Mark Kantrowitz Mark Kantrowitz Read Full BioMark Kantrowitz helps students and their families make smarter, more informed decisions about planning and paying for college. Mark has written five bestselling books about scholarships and financial aid and has also written for the New York Times, W.
Learn more about our editorial process Genevieve Carlton, Ph.D. Genevieve Carlton, Ph.D. Read Full BioAn award-winning historian and writer, Genevieve Carlton, Ph.D., has published multiple scholarly articles and a book with the University of Chicago Press. She currently works as a writer and consultant. She holds a Ph.D. in history from Northwestern.
Will Baker Will Baker Read Full BioWill Baker has worked as an editor and outreach strategist with BestColleges. He is passionate about providing students with the means to make informed decisions about their education. In his free time, he plays music, spends time with his sisters, a.
Reviewed by Mark Kantrowitz Mark Kantrowitz Read Full BioMark Kantrowitz helps students and their families make smarter, more informed decisions about planning and paying for college. Mark has written five bestselling books about scholarships and financial aid and has also written for the New York Times, W.
Updated on August 20, 2024 Learn more about our editorial processwww.bestcolleges.com is an advertising-supported site. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site.
Turn Your Dreams Into Reality
Take our quiz and we'll do the homework for you! Compare your school matches and apply to your top choice today.
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?
When colleges send you an offer of admission, you pay an enrollment deposit to hold your spot. This deposit goes toward your tuition for the first year. Depending on the school, you may also need to pay a housing deposit to reserve on-campus housing.
Incoming students can generally 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.
But can you submit enrollment deposits to multiple schools if you're having a hard time deciding? While you may be able to do this, you should avoid making double deposits — in addition to costing you extra money, by claiming a spot at multiple colleges, students on waiting lists may miss out on a chance to get into their dream school.
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
The process for submitting your deposit varies depending on the school. At most colleges, admitted students must fill out an enrollment form online and submit their deposit electronically.
Students can also submit a hard copy of the form with a check or money order. Some schools even accept online payment systems like PayPal.
Before the decision deadline, make sure you understand how to submit the deposit. Check with an admissions counselor or enrollment advisor if you run into any problems. If you're facing financial hardship that could make it difficult to afford a deposit, reach out to the school.
Many colleges let you defer payment of the enrollment deposit. For example, if you cannot pay the deposit out of pocket, you can apply for a deferral until your financial aid comes through. But be sure to contact your school about this well before the deposit deadline.
Each college sets its own process for accepting a deferral. At some schools, admitted students who received an application fee waiver can automatically defer the enrollment deposit. At other schools, students need to fill out additional paperwork.
Admitted students can request an enrollment fee waiver if the deposit represents a financial hardship. Students who need a waiver should contact the admissions office at their college as soon as possible.
To qualify for an enrollment deposit waiver, students may need to provide proof of financial need. At many schools, qualifying for a Pell Grant or receiving other forms of financial assistance means students can receive a waiver or deferral.
In addition, the National Association for College Admission Counseling offers an enrollment deposit fee waiver that admitted students can submit to their schools.
Most colleges consider enrollment deposits nonrefundable. That means if you decide not to attend after putting down a deposit, you lose the money.
Paying a nonrefundable deposit but not attending college can cost you hundreds of dollars. However, some schools offer refunds on enrollment deposits if you contact them by a particular deadline. Reach out to your school to ask whether college deposits are refundable and how to apply for a refund.
A college enrollment deposit holds your spot in the incoming class of students. The deposit applies toward your tuition and fees for the first year. But enrollment deposits are not legally binding. In other words, submitting the deposit does not mean you're legally responsible for paying tuition or attending that school.
If you decide not to attend, most schools will keep the deposit. That makes enrollment deposits nonrefundable, but not binding.
Admitted students might think they need to pay for the enrollment deposit out of pocket. But in certain circumstances, students who fill out the FAFSA can use federal financial aid to pay the deposit.
That said, admitted students can ask to defer the deposit until their financial aid comes through. Most colleges will allow students to defer their deposit, meaning they can pay it with FAFSA funding.
Summer melt is a phrase used to describe the phenomenon that occurs when students successfully apply for college in the spring but fail to enroll at school in the following fall. Summer melt may occur for many reasons, but research shows that it disproportionately affects students of color and learners from low-income backgrounds.
BestColleges.com is an advertising-supported site. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site.
Compare Your School Options
View the most relevant schools for your interests and compare them by tuition, programs, acceptance rate, and other factors important to finding your college home.
