Previously, I mentioned the factors to consider whether going on the waitlist is right for you and what you should do once on the waitlist to improve your chances.

In this article, we’ll elaborate on those factors and describe actionable items you can do for each one.

Important Factors to Consider

Before going on the waitlist, consider these factors:

1. Position: Where are you on the waitlist?
2. Financial aid limits: Will being admitted off the waitlist impact your financial aid package? If so, is it worth it?
3. Risk aversion: Are you willing to risk a few hundred dollars to maximize your chances? 
4. Stress tolerance: Are you willing to stick it out until the end even if it drags into summer break?
5. Enthusiasm: Are you still interested in the school at this point?

#1 – Position

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Ask the admissions office where you are on the waitlist and whether it is ranked.

If it’s ranked it means the order of applicants is determined by the overall strength of his or her application.

This means better scores, grades, letters of recommendation, and/or extracurriculars will increase your chances.

It would also be helpful to ask if there is a priority waitlist and whether you’re on it.

Next, compare your position to the school’s historical waitlist acceptance rate. 

Do you have a good chance of getting off the waitlist? If not, then staying on the waitlist may NOT be worth the time, money, or stress.

What you can do: Ask the admissions office where you rank on the waitlist and whether there is a priority waitlist (if so, are you on it?). Then compare it to the school’s historical waitlist acceptance rate.

#2 – Financial Aid Limits

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A major downside of being admitted off the waitlist is possibly having less financial aid (depending on when you received your decision). 

This is because many schools will already have disbursed or committed a significant portion of their aid by the time you get off the waitlist, which means less for you.

It is a good idea to reach out to the financial aid office and ask whether there are limits placed on students admitted off the waitlist. If so, ask for an estimate.

If financial aid is a dealbreaker for you then going on the waitlist may NOT be worth it (even if you got in).

What you can do: Ask the financial aid office if financial aid limits are placed on students accepted off the waitlist. If so, ask for an estimate.

#3 – Risk Aversion

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It is also important to consider your level of risk aversion. Do you sit well with risks or do you prefer safe bets?

Ask yourself whether you would be okay with giving up a few hundred dollars (non-refundable deposit) to attend the waitlist school, which will happen if you accept their offer.

So if money is tight then going on the waitlist may NOT be the best idea – and no one would fault you for making the responsible decision.

What you can do: Ask yourself if you would be willing to risk a few hundred dollars to attend that school.

#4 – Stress Tolerance

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Another important consideration is how well you deal with stress/anxiety. 

Are you willing to stick it out until the end – even if it means missing out on your senior year and summer vacation?

If you’re thinking “no” then maybe going on the waitlist is NOT for you.

What you can do: Be honest with yourself. Would you be okay with waiting for months until decisions come out?

#5 – Enthusiasm

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Your enthusiasm is the final consideration. 

Now that you are waitlisted by the school, are you still interested at this point?

If you aren’t excited about the school anymore or don’t think it’s worth the sacrifice, then maybe going on the waitlist is NOT for you.

What you can do: Be honest with yourself. If you don’t feel excited about it anymore, this is important to consider.

TL;DR – Everything in a nutshell

Ask yourself these questions:

1. Ask the admissions office where you rank on the waitlist and whether there is a priority waitlist (if so, are you on it?). Then compare it to the school’s historical waitlist acceptance rate.
2. Ask the financial aid office if financial aid limits are placed on students accepted off the waitlist. If so, ask for an estimate.
3. Ask yourself if you would be willing to risk a few hundred dollars to attend that school.
4. Be honest with yourself. Would you be okay with waiting for months until decisions come out?
5. Be honest with yourself. If you don’t feel excited about it anymore, this is important to consider.

Once you have all of this information, decide whether going on the waitlist is in your best interest.

Remember, be honest with yourself and it’s okay to change your mind. You don’t want to be in a situation where you realize you don’t like the school or can’t afford it.