pulling out after accepting an offer

[mark123987456]

I have a few question about the application process.

Let's say that a student gets an admit from one school.
But (s)he still has an interview coming for another, better (and more competitive) school.
Unfortunately, the deadline for accepting school1's offer expires before the interview with school2.

What to do? Accept school1's offer, pay school1's deposit; and if an school2 gives an admit, then pull out of school1?
What is the potential damage (other than losing the deposit paid to school1)?
Does acceptance of school1's offer reduce the chances of being admitted by school2?
Do schools exchange information (e.g. via the organisation that runs the GMAT) about who accepts offers?
How easy is it to pull out of school1 and accept the offer from school2?

I know that for some _graduate_ schools in the US, it is actually illegal to accept one offer, then pull out and accept another offer (and schools talk to each other).
Is it the same for _business_ schools?
What about non-US business schools?

[money9111]

did you apply R1 for one school and R2 for another? Is that why there's an overlap? or is there rolling admission?

1. Which school do you want to go to more? School 1 or School 2? - sounds like School 2 otherwise there would be a conflict.
2. If school 2 admits you and you pull out of school 1, why would you care what the damage is to school 1?
3. No the acceptance of SChool 1's offer does not reduce the changes of being admitted by School 2... the schools do not exchange information - i'm 99% sure on this one
4. It's very easy to pull an acceptance... happens all the time...

[hk]

I know a guy who actually did that. He got accepted to ABC school, and the school gave him 15 days to pay the deposit. On day 5 he got invited to interview at XYZ school (more reputed). So he paid the deposit to the first school, interviewed with the second school and eventually got admitted to XYZ school. He finally had to forgo ABC's deposit and matriculated at XYZ.

I hope your queries as answered in the above post.

[ultraeasy]

First, you should call the first school's admission's office and tell them that you are waiting for a decision from another school and would like an extension for your deadline. They can do that for people, but not always.

If you can't get an extension, then the game is you have to pay the deposit for the first school and to secure your seat. If you get into and attend the second school, you lose the deposit from the first. It sucks to lose cash, but it is just another business school expense.

Or you could gamble that you are going to get into school two and just not pay a deposit at the first school at all.

Good luck.