How much time do you have after acceptances to accept offer?

Hey kdub09,

The application process is filled with uncertainties and a lot more is unknown than what's known. It is also common that applicants work on their R2 applications without knowing the results of R1.

Here are few scenarios:
1. Your R1 schools' notification deadlines are on January 10th-15th and all R2 applications deadlines are at the beginning of January. You'll still have to work on R2 applications and submit them, regardless of the outcome of your R1 applications.
2. Your R1 school notification deadline is on mid December, this would theoretically allow applicants to decide whether to continue applying to other schools in R2 on January, however, one can't relay on a decision in mid December if s/he wants to apply to a school on January - s/he won't be able to prepare an application in 2 weeks in case the answer on mid December is a ding. Meaning, one would anyway have to prepare an application for R2 and if her/his #1 school's notification deadline for R1 is on mid December, s/he might be able to decide not to apply in R2, however, s/he'll still have to work on R2 application beforehand in case s/he isn't accepted in R1.
3. You get a waitlist on mid December notification deadline.

So regarding your first question - most schools have a specific notification deadline. You can look it up on their website in the admissions deadline page. Few schools, such as Columbia, have "X weeks after submitting the application" deadline.

Bottom line is, you can't plan anything. You might apply to your #1 school with a mid December notification deadline and then get dinged or waitlisted and then have to submit additional applications in R2.

Regarding your second question, if you get accepted on the decision notification deadline, you get about a month or so to accept or decline the offer. But it varies, it could also be a bit longer. If you get accepted off the waitlist - it totally varies. Fuqua, for example, gave waitlisted applicants 2 days (!!!) to accept or decline an offer (which is totally unfair for applicants who have waited for them for months btw). Other schools might give you 10 days-2 weeks to decide once you're accpeted off the waitlist. And yes, the application is withdrawn if you do not respond within a certain period of time. However, you can always pay the deposit, save your spot, and make a decision later on depending on other developments.

So you shouldn't "fear" about being accepted to a school you've applied to - you should be happy to get in to any school you've applied to! And paying the deposit and later on declining the offer is not that bad - come to think of it, a $1000 deposit is just 1% of the tuition you will be paying for two years...

About the waitlist - no rules here - usually there is a movement on the waitlist after the deposit deadline of the round in which you have applied to has passed - and the schools know who accepted/declined their offers and what kind of profiles they are looking for instead of the applicants who have declined the offer. BUT it might take longer. Some schools even let applicants know a day before orientation starts. It is very rare since one has to make a lot of preparations. A waitlist decision might take months. Some schools are specific about it "You will be notified by X" and some just say "We can let you know in any given point from now until the summer months".

In general - it is best to apply to your preferred schools on R2 and your less preferred schools on R1 - because the applications are usually getting better, IMHO.

Good luck!