Applying multiple EMBA - timing question

[Maina]

Hello!

I have applied to a Top 30 EMBA program and I will have an interview next week (Yay!). It's been my first choice because I was very interested in the program itself, and also because it didn't require GMAT. I have been studying GMAT for past 3 months on and off but I have never reached 600 in the prep test. My GMAT date is late Dec and I will study more from now that I have completed an application...
Now, I just met with admissoin of another EMBA program of Top10 program and I was told I am a good candidate and I should apply. It is also an interesting program, very high reputation, and requires GMAT. I was thinking the average score would be over 700 but the admission person told me it's actually about mid 600.
Now, my question is about implications in case I get accepted by the Top 30 EMBA program in early Dec and I still apply to the Top 10 EMBA program in January? Does the school typically request you to pay and/or commit to enter the program soon after the offer or can I still keep applying to other schools while keeping the right to enter the accepted school? How does it normally work?
Again, I will know if I am accepted to the Top 30 school around the first week of Dec and I will be ready to submit my Top 10 application in Jan. It's rolling system so I will know the result by Feb.
Thanks for your comments!

[Favin]

Maina,

Good questons - I hope I can help. Three things:

First, I would definitely apply to your top10 school, but get the application in as early as possible. Your ability to get into a top 10 program shouldn't be affected by your commitment to the top 30 program. However, as many on these boards can tell you, getting your best application in early will only help.

Also, keep in mind that once you indicate your plans to join a program they will ask for a deposit. This can be expensive - up towards $5,000 for some schools. So do your research on what the deposit is for the top30 school and be prepared that you would lose that money if you went to the top10 school after enrolling into the top30 program.

Lastly, if you do leave the top30 program, keep in mind that that is a seat that someone was likely wait-listed for. So they earlier you can inform them, the better you would be helper out a stranger out there.