I am in the exact same situation. I am 99% sure we don't need to decline our waitlisted #1 school. All that will happen is that we drop to our #2 school who would have the chance to award the fellowship.
Thewmarie
graceB
Same thing happened to me but I knew I didn't want to go to my top choice, who waitlisted me, after I applied. I removed myself from the waitlist and accepted my offer at my 2nd choice school so that I could be offered the fellowship. Adcom told me that a school won't offer the fellowship if you're on the waitlist because technically you're not admitted. I would reach out to the schools to see what their policy is.
"What happens with the Consortium fellowship if you are waitlisted at your top choice School?
Will your second choice School automatically have the opportunity to offer you the fellowship or is it in some kind of limbo?"
Posted from my mobile device
I haven't seen anything regarding this topic, but I can't imagine The Consortium would let a school hijack your chances at a fellowship like that. I'm guessing schools have to offer you admission to draft you.
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So, in order to get the fellowship for your second choice, would we have to remove ourselves from the waitlist of school ranked 1? I was just waitlisted today from my first choice.