Deposit is a payment required of an admitted student to reserve a place in the entering class.
How it works
The admitted student submits the deposit by the deadline through the admissions portal. The payment is recorded and the student is counted as deposited for yield and capacity planning. At registration the deposit is applied to the tuition bill. If the student withdraws before the refund deadline, the deposit may be returned; after the deadline it is forfeited. Failure to deposit results in loss of the admission offer.
Example: an online program requires a $200 deposit by May 1. The student pays on April 20 and is marked as intending to enroll. When fall tuition is billed, the $200 is subtracted from the balance. A student who never deposits loses the seat, which may be offered to a wait-listed applicant.
How it differs
An application fee is paid to have the application reviewed and is not credited to tuition. Tuition is the charge for instruction. A housing deposit reserves a residence-hall space. The enrollment deposit specifically reserves an academic place.
Common errors
Missing the deposit deadline and losing the admission offer. Assuming the deposit is always refundable. Paying deposits at multiple institutions when policy prohibits it.
References
- 1. Institutional deposit policiesAmounts and refund rules
- 2. NACAC principles (historical context)Deposit deadlines and ethics
Deposit is a payment required of an admitted student to reserve a place in the entering class.