NYU Tandon MFE NYU Poly MFE - Deposit

[antwnia]

Hello! My name is antwnia and I am new to this forum. I have an offer for the NYU Poly MFE program. I would like to ask, is it posible to make the required deposit in order to secure my position and then change my mind and tell them that I won't attend? I know that I will lose my deposit fee but I don't care. The fact is that I am waiting to hear from other 2 universities and the answers will come certainly after NYU's deadline for the deposit. Is it binding to attend if you make the deposit?

Thank you very much!

 

[Quant4Life]

I deposited at MIT and declined it a month later. I lost half of the deposit...

 

[antwnia]

So it is not binding. Thank you very much Artur, I really appreciate your help

 

[Quant4Life]

You should tell them though that in case you get another offer you withdraw your application, so that they expect that. That's what I did. I made it 100% clear that I'm depositing the money only as an insurance policy in case my other top choices decline me...

 

[antwnia]

Yes tha's probably the right thing to do. However, my question had to do with the legal side of it, i.e. if it is binding after one accepts her/his offer to attend the program and pay the tuition fees in full.

 

[Quant4Life]

No that happens all the time. Admissions committee understands that student's life to a large extend depends on this choice... This happens even with phd admissions with full support...

 

[Andy Nguyen]

You lose the deposit if you decide not to attend that program. There is no legal biding. It happens more often than you know.