Can I Defer My Admission?
Deferring is when you remain eligible in the regular admissions pool but aren’t accepted. It can be a great solution if you’re having trouble getting accepted to your top school choices.
College policies on how to request a deferral vary, but typically you must submit a letter outlining why you wish to delay enrollment and when you plan on attending. Additionally, sending an updated grade report and recommend letters is recommended.
What is a deferral?
Deferrals are accounting adjustments that postpone the recognition of a transaction in an organization’s records to future periods. Companies often utilize deferrals as a way to balance out inconsistent financial results due to cash received or paid before goods and services are delivered.
Deferring expenses and revenue into appropriate fiscal periods allows management and external users to more accurately evaluate the actual results of a business’ operations. Furthermore, it helps companies stay compliant with Generally Accepted Accounting Principles (GAAP).
When a business receives payment before delivering a product or service, it should not reflect that payment as revenue until after delivery has taken place. This principle, known as matching, is an integral component of accrual-based accounting methods.
Another key accounting concept is the revenue recognition principle. This dictates that revenue should be recognized when earned, in contrast to the matching principle which requires expenses to be recorded at their source.
Revenue recognition and matching principles require adjusting journal entries that move transactions from one accounting period to the next. These adjustments are referred to as deferrals or accruals, respectively.
Deferrals are an integral component of a company’s accounting process, as they transform cash accounting – which records revenue and expenses when money exchanges hands – into accrual-based accounting, which recognizes revenue when earned and matches that timing with expenses.
An example of deferring payments would include quarterly rent payments received in advance by property owners or annual insurance premiums paid up front by insureds. When these amounts are recorded as liabilities on a company’s books, they become assets that must be paid rather than revenues and expenses which can be collected.
Navigating deferrals and accruals can be a complex issue, often necessitating extensive manual accounting that may lead to inaccurate or overlooked figures. That is why so many businesses opt for automation of their deferrals and accruals using appropriate software solutions.
How do I apply for a deferral?
Applying for a deferral is easy. Either write an official request or submit your letter of continued interest (LOCI). In either case, express your enthusiasm about attending and why their program would benefit from having you on board.
When you receive a deferral from your first-choice college, it can be tempting to give up hope that you won’t get in. But remember: A deferral doesn’t have to spell disaster – there are still other colleges available and more opportunities than ever for you!
It’s essential to stay positive throughout the process. Many students experience disappointment when their applications are denied, but there are plenty of colleges eager to accept you and welcome you into their classrooms.
Some schools, like Harvard and Yale, are known for being “generous” when it comes to deferrals. On the other hand, Duke and Stanford don’t give out as many deferrals as acceptances do.
Deferring is an excellent chance for you to bolster your application. Begin by sending the college a letter of continued interest or deferral letter that expresses your enthusiasm for their program and why you want to attend. This letter can serve as motivation for them in reviewing your decision to defer.
Once your midterm grades improve, awards you receive, new projects or activities you take on, and other factors could help enhance your chances of admission. Furthermore, having a second letter of recommendation from an experienced teacher who knows you well may give additional support in your application process.
If you’re uncertain whether or not to send an email, college counselors are always available to discuss your options and offer their advice. In a one-on-one session, they can teach you what should go in your message and how to make it as impactful as possible.
If you choose to send an email or update, be sure to keep it brief and polite. Don’t make the college feel stressed out by your communications; additionally, avoid overstaying your welcome as this may cause the admissions office to reject your request.
What happens if I don’t get a deferral?
Deferring your college application gives you a second chance to keep applying and may increase your chances of acceptance. Colleges will review your application at a later date and decide whether or not they want to accept you, decline you, or waitlist you.
Many students opt to defer their admissions when unsure of where they want to go or have other pressing priorities. They may want to spend their gap year traveling the world, working full-time or getting an internship related to their field of interest. Furthermore, many may worry about paying tuition or not receiving financial aid because they applied late.
Your chances of receiving a deferral depend on how many applications are submitted and the type of student the school wants to admit. For instance, MIT has reported accepting anywhere from 100 to 300 deferred students in the past.
Some colleges will grant you a deferral in exchange for an updated application or letter from your guidance counselor expressing support for your application and providing any new information that the admissions office might not have known about you when you first applied. If your school allows updates, this is an ideal chance to showcase academic successes and enhance your candidacy.
Once you receive a deferral letter, be sure to adhere to the instructions included. Most schools will request an updated transcript or letter of recommendation in order to confirm your academic progress and inform them of any additional activities you are engaged in.
If you have a friend or family member who works at the school, be sure to enlist their support as well. This could be especially beneficial if the school has seen an unusually large increase in applicants from your area.
Another way to increase your chances of receiving a deferral is to contact the admissions office directly and request assistance in improving your application. This could include sending an updated resume or essay, submitting first semester grades from senior year, updating test scores, or obtaining another recommendation letter.
What happens if I’m denied a deferral?
When applying to colleges through Early Decision or Early Action, you may be anxiously awaiting news of whether or not your top choice college has accepted you. Unfortunately, this possibility exists as well; many students who apply early face the possibility of being denied admission due to colleges with competitive admissions standards.
Many colleges have a policy where they will defer applicants who are not accepted during their early admissions round. These schools typically strive to maintain an impressive applicant pool.
In the 2020 application cycle, Harvard and MIT deferred 50% of early applicants; the other 50% were rejected outright.
Once deferred, the school will send you a letter outlining what steps should be taken next in order to maximize your chances of acceptance. While these letters differ between schools, most will ask for proof of continued interest or additional information such as an interview or test scores.
Once you receive your deferral notification from the college, you should send them a letter outlining your accomplishments and why they should still consider you for admission. Ideally, this should be sent as a one-page document.
A letter of continued interest is an ideal chance for you to stand out and convince the college that your application deserves consideration even if you have been deferred. To make sure the letter is as convincing as possible, take your time crafting it.
In addition to submitting a letter of continued interest, you can usually upload an updated version of your application. This could include updated information such as SAT/ACT scores or first-semester senior year grades that show how academic performance has improved since you submitted the initial application.
However, don’t go overboard by sending in more information than your school has requested. It can be frustrating and confusing for the admissions office to work with someone who doesn’t follow instructions, potentially decreasing your chances of acceptance.