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Commitment deposit

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Current Student
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Joined: 09 Apr 2008
Posts: 197
Schools: Chicago Booth '11
Followers: 2

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Commitment deposit [#permalink] New post 19 Aug 2008, 17:28
Can anyone tell me how much each school charges?

My main schools of interest are:
Chicago
HBS
Stanford
Duke
Kellogg
Wharton
Director
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Joined: 18 Sep 2006
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Location: Chicago, IL
Schools: Chicago Booth 2010
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Re: Commitment deposit [#permalink] New post 19 Aug 2008, 19:03
chicago is $2000, 2 $1000 payments spread over a couple months
Current Student
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Joined: 27 Jul 2007
Posts: 874
Location: Sunny So Cal
Schools: CBS, Cornell, Duke, Ross, Darden
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Re: Commitment deposit [#permalink] New post 19 Aug 2008, 21:48
Duke - $1,500 ($3,000 for Early Action)
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Joined: 23 Jul 2007
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Schools: Attending Stanford
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Re: Commitment deposit [#permalink] New post 20 Aug 2008, 06:22
Stanford- $1000
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Joined: 30 Apr 2008
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Location: Oklahoma City
Schools: Hard Knocks
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Re: Commitment deposit [#permalink] New post 20 Aug 2008, 06:37
I think Kellogg is $1,500. I wouldn't worry too much about it. If you have family and friends that understand the value of these schools, when you get accepted, I'm sure you can come up with the money. Besides, if you get extra or scholarships, etc, you will likely have some cash in your pocket after processing all financial aid, so you can pay them all back when you start that fall. 6 month loan.
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Current Student
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Joined: 09 Apr 2008
Posts: 197
Schools: Chicago Booth '11
Followers: 2

Kudos [?]: 13 [0], given: 2

GMAT Tests User
Re: Commitment deposit [#permalink] New post 20 Aug 2008, 07:26
My conern isn't coming up with the deposit....it's the dilema I could face if I'm accepted in round one and my deposit is due before I hear back from schools in round two.

Does anyone have experience with this?
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Schools: Hard Knocks
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Re: Commitment deposit [#permalink] New post 20 Aug 2008, 07:31
Most of the standard Rounds have deposits that aren't due until April. Of course, the Early Action and Early Decision rounds are different for schools like Tuck and Columbia, but for the most part, the deposits for normal rounds are due in April, or for very late rounds within 2 weeks of getting accepted.
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GMAT Club Legend
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Joined: 10 Apr 2007
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Location: Back in Chicago, IL
Schools: Kellogg Alum: Class of 2010
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Re: Commitment deposit [#permalink] New post 20 Aug 2008, 08:20
The ultra elites often dont extend deposit deadlines but some other schools are willing to. I dont think anyone will say a $1000 to $2000 deposit is a small amount of money but relative to what you are going to spend if you end up getting into your dream school its worth kissing that money good bye.
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Kellogg Class of 2010...still active and willing to help. However, I do not do profile reviews, don't offer predictions on chances and am far to busy to review essays, so save the energy of writing me a PM seeking help for these. If I don't respond to a PM that is not one of the previously mentioned trash can destined messages, please don't take it personally I get so many messages I have a hard to responding to most. The more interesting, compelling, or humorous you message the more likely I am to respond.
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Re: Commitment deposit [#permalink] New post 20 Aug 2008, 15:39
riverripper wrote:
The ultra elites often dont extend deposit deadlines but some other schools are willing to. I dont think anyone will say a $1000 to $2000 deposit is a small amount of money but relative to what you are going to spend if you end up getting into your dream school its worth kissing that money good bye.


Exactly. Considering you'll be spending $80K+ on tuition alone, what difference does one or two thousand make? Consider it the cost of going to your dream school.

But like many have said, it usually isn't an issue.

RF
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Re: Commitment deposit   [#permalink] 20 Aug 2008, 15:39
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