Monday, May 17, 2010

Wasted Deposits = Opportunities?

I just learned about "summer melt", and no, it isn't the hot weather version of a sandwich classic. It's when students who paid deposits to attend a college decide to go elsewhere. With applications up at so many schools this year and students putting down deposits while they wait to hear from wait list schools, there's likely to be more summer melt than previously.

This might mean that more financial aid is available. Of the accepted students who decide not to attend, a good portion probably received financial aid offers. So now, the unclaimed money is back in the pool. There's no harm in an accepted student contacting the financial aid office to make a case for more aid -- and mentioning if there has been a change in circumstances (parent's job loss, etc.)

As of earlier this month, there were 240 colleges still accepting students because they hadn't met their desired enrollment levels.

There are still opportunities out there.

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