natuago91 wrote:
How much are deposits (generally)? I've read a school that requires 1st deposit 4 weeks after the decision and the final deposit 4 weeks after that. Does that mean if your first deposit is just to secure a spot but the second one is binding that you'll attend? What is the general practice with bschools? It is bad practice to put down a deposit and later not go after hearing from a "dream" school?
Deposits are generally $1000. Many schools require a decision after 4 week or so. Some give extensions (Haas), some do not (Kellogg, though they're flexible by 2-3 days). Most schools will have a decision date after their first Admit Weekend, so things may work out.
There is no "second" deposit as far as I know based on the schools I've applied to. They are also not binding, so all you lose is the $1000. Many people do that so they have more time to decide between two schools.
It's not bad practice to put down a deposit and then leave, it has happened before.
I would strongly suggest 1 safety school (one which you'll attend if that's the only school you get into) in R1 so that you are more relaxed after January in case you don't get into your other reach/sweet spot schools. Nothing is worse than still waiting for that one admit in late-March. Read some posts on this forum from this past year and you'll see the anxiety.