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I know that most people are getting loans to attend university to study the MBA. I think it is just ridiculous that they want a deposit of $5,000 upon accepting an offer of attendance.
Do you know if Rotman would defer that payment until the loan money comes through? Or you using savings, or a personal bank loan or credit card to pay for your deposit?
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Their policy isn't really much different than any other school. Some schools will let you accept and have to pay your deposit within a month after your acceptance.
If you don't like it, then wait until your very last possible day to accept and send the check in. But generally speaking this is a normal practice.... deal with it.