May 1 is the universal “Day of Acceptance”. Today is the day you have to choose which college you plan to attend from the colleges that have accepted your application for admission.
You can only choose one college and send in your deposit to that college. Sometimes, families are confused and believe they have the ability to choose more than one college. Or some students have a difficult time deciding which one and think they can send in more than one deposit. They cannot.
Additionally, your high school will only send out one final transcript to one college where you plan to attend. Every college requires a final transcript to be sent to see that students did indeed graduate and that they kept their grades up and did not drop any classes. If you read your acceptance letter carefully it will contain language that indicates your acceptance is contingent upon successful completion of your senior year. Receiving your official final transcript is how they confirm this.
What about if you are wait-listed at another college and you are waiting to hear? What you need to do is choose a college from those that have accepted you and deposit. Colleges will not go to their wait list until after May 1–after they know if they need to fill more spots. If you are invited off a wait-list and you want to accept, you will lose your deposit at the college you initially chose. However, since being invited off a wait list is not guaranteed, this is not considered double depositing.