Deposit advice?

[islandersfan79]

Facts about me:
- I am a 3.4/515 applicant
- I have 4 DO II (3 complete, 1 future) and 2 MD II (1 complete, 1 future)
- I have received one DO acceptance thus far that requires a $1500 deposit, due October 1st
- Am still awaiting word from a handful of DO schools, many MD schools
- MD is my goal; however, I'd like to start my medical education next summer. DO is fine with me

I'm in a bit of a pickle. I have an upcoming deposit due for an osteopathic school that I personally rank lower than one of the other two DO interviews I have completed. I feel these interviews went extremely well. Would I be a fool not to pay this deposit in the hopes that one of my other five II will net an acceptance? I didn't think I would have the luxury of being in this position. I keep going back and forth, thinking about how significant $1500 is to me, but also the stress that I would incur knowing that my future is again uncertain until further decisions come in.

Should I just eat the $1500 as insurance, or are my future prospects favorable to the extent that I can take the risk of not paying?

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[deleted1005514]

If one of the other schools doesn’t make you an offer by 9/30, and you’d rather go to your lower ranked school than not be a doctor, pay the deposit.

 

[Goro]

Facts about me:
- I am a 3.4/515 applicant
- I have 4 DO II (3 complete, 1 future) and 2 MD II (1 complete, 1 future)
- I have received one DO acceptance thus far that requires a $1500 deposit, due October 1st
- Am still awaiting word from a handful of DO schools, many MD schools
- MD is my goal; however, I'd like to start my medical education next summer. DO is fine with me

I'm in a bit of a pickle. I have an upcoming deposit due for an osteopathic school that I personally rank lower than one of the other two DO interviews I have completed. I feel these interviews went extremely well. Would I be a fool not to pay this deposit in the hopes that one of my other five II will net an acceptance? I didn't think I would have the luxury of being in this position. I keep going back and forth, thinking about how significant $1500 is to me, but also the stress that I would incur knowing that my future is again uncertain until further decisions come in.

Should I just eat the $1500 as insurance, or are my future prospects favorable to the extent that I can take the risk of not paying?

What choice do you have? can you afford to blow this school off?
My answer would be yes only if you had bad vibes from the school.
You can't guarantee that you'll hear anything positive from the MD schools. As of right now you are rejected.

 

[El-Rami]

I would just pay that deposit. MD deposits are much cheaper, so if you get an acceptance from them at a later date, you can likely come up with that. You would lose the $1500, though.

 

[Angus Avagadro]

Congrats on your admission. Pay the deposit. Why would you apply to a school you dont want to go to? If you get accepted to a higher choice, then it was the cost of doing business. Only 20% of applicants get more than 1 admission, so consider that. Good luck and best wishes!

 

[MDMechEngr]

Facts about me:
- I am a 3.4/515 applicant
- I have 4 DO II (3 complete, 1 future) and 2 MD II (1 complete, 1 future)
- I have received one DO acceptance thus far that requires a $1500 deposit, due October 1st
- Am still awaiting word from a handful of DO schools, many MD schools
- MD is my goal; however, I'd like to start my medical education next summer. DO is fine with me

I'm in a bit of a pickle. I have an upcoming deposit due for an osteopathic school that I personally rank lower than one of the other two DO interviews I have completed. I feel these interviews went extremely well. Would I be a fool not to pay this deposit in the hopes that one of my other five II will net an acceptance? I didn't think I would have the luxury of being in this position. I keep going back and forth, thinking about how significant $1500 is to me, but also the stress that I would incur knowing that my future is again uncertain until further decisions come in.

Should I just eat the $1500 as insurance, or are my future prospects favorable to the extent that I can take the risk of not paying?

dont they return your deposit if you withdraw before a certain date? If they dont, that is another reason to go MD. LOL.

 

[deleted480308]

dont they return your deposit if you withdraw before a certain date? If they dont, that is another reason to go MD. LOL.

“Just go md” isn’t always an option

pay the deposit by the deadline if you want to be a doctor

 

[futurexray]

AACOMAS guidelines for deposit note that you should have until 12/14 to pay a deposit if you are accepted prior to 11/15. Schools really should follow those guidelines so you have time to weight your options more thoroughly. From AACOMAS:

The purpose of these guidelines is to allow prospective students to explore their options with the osteopathic medical community and to give the colleges of osteopathic medicine (COMs) the ability to process, select and matriculate applicants in a fair and timely manner.

1. COMs will publish and follow an application schedule.
2. COMs will publish their respective application procedures and admission requirements.
3. COMs may begin extending offers of admission at any time after the interview. Applicants will be asked to submit necessary matriculation documents, including a deposit, according to the following AACOMAS traffic guideline schedule:
   • Those accepted prior to November 15 will have until December 14.

 

[El-Rami]

AACOMAS guidelines for deposit note that you should have until 12/14 to pay a deposit if you are accepted prior to 11/15. Schools really should follow those guidelines so you have time to weight your options more thoroughly. From AACOMAS:

The purpose of these guidelines is to allow prospective students to explore their options with the osteopathic medical community and to give the colleges of osteopathic medicine (COMs) the ability to process, select and matriculate applicants in a fair and timely manner.

1. COMs will publish and follow an application schedule.
2. COMs will publish their respective application procedures and admission requirements.
3. COMs may begin extending offers of admission at any time after the interview. Applicants will be asked to submit necessary matriculation documents, including a deposit, according to the following AACOMAS traffic guideline schedule:
   • Those accepted prior to November 15 will have until December 14.

Those guidelines are not always accurate. Schools can set their own deposit deadlines. Just be aware that in the worst case scenario, a school may require you to pay your deposit within 30 days of the date that you receive your offer.

If you are in that situation and don't have all of the cash on hand for some reason, consider selling stuff or going to a pawn shop for a loan (if you don't have the privilege of having family that can help you out).

 

[futurexray]

Those guidelines are not always accurate. Schools can set their own deposit deadlines. Just be aware that in the worst case scenario, a school may require you to pay your deposit within 30 days of the date that you receive your offer.

If you are in that situation and don't have all of the cash on hand for some reason, consider selling stuff or going to a pawn shop for a loan (if you don't have the privilege of having family that can help you out).

I absolutely agree with you that there are many schools who do not follow those guidelines. It is a shame not to give applicants the chance to makes choices. The whole process is a times of difficult choices.

 

[8YearsLate]

That's really early to require a deposit. Did you apply via early decision? I applied to one early decision and even they don't require anything until late November. Also, my 2 cents - don't get a loan from a pawn shop or payday loan center or anything like that. This is the kind of thing family may be willing to help with, or even starting a quick GoFundMe (no, I'm not kidding, I paid for 2 mission trips with GoFundMe). It's a lot harder to get people to be charitable over your debt.

 

[chuxi]

That's really early to require a deposit. Did you apply via early decision? I applied to one early decision and even they don't require anything until late November. Also, my 2 cents - don't get a loan from a pawn shop or payday loan center or anything like that. This is the kind of thing family may be willing to help with, or even starting a quick GoFundMe (no, I'm not kidding, I paid for 2 mission trips with GoFundMe). It's a lot harder to get people to be charitable over your debt.

Not OP, but unfortunately there are a few schools that don't abide by traffic guidelines so it may not necessarily be early decision. :// For whatever reason, some schools such as TUNCOM/Touro-CA (just giving examples, not trying to imply anything bad) have a 2-week deposit deadline.

 

[8YearsLate]

Not OP, but unfortunately there are a few schools that don't abide by traffic guidelines so it may not necessarily be early decision. :// For whatever reason, some schools such as TUNCOM/Touro-CA (just giving examples, not trying to imply anything bad) have a 2-week deposit deadline.

Damn jeeze. I hope none of the schools I've had success with have that quick of a turnaround or I've um...already missed it lol. I feel like hopefully that would have been emphasized during an info session? I think most of mine said mid-December.

 

[futurexray]

Damn jeeze. I hope none of the schools I've had success with have that quick of a turnaround or I've um...already missed it lol. I feel like hopefully that would have been emphasized during an info session? I think most of mine said mid-December.

Your acceptance letter should note the deposit schedule.