Have you discovered that a school on your list has a rolling admission policy? It might sound a bit like the "Wheel of Fortune", but it can actually put the odds in your favor when it comes to getting accepted.

While many schools have a “hard” deadline for applications (meaning they won’t accept those either postmarked or received after that date), colleges with rolling admissions accept applications until they’ve filled all the spots in their freshman class.

Colleges and rolling admissions
Some schools go this route right from the start. As each application comes in, it’s reviewed. Decisions are then made on a case-by-case basis and you’ll usually hear back within 4 to 8 weeks.

However, there are some schools that accept applications under a rolling admission policy and then send out decisions all at once. Depending on whether they’ve found the students they’re looking for, they may then continue to review applications — or not.

In certain situations, schools may use rolling admissions after  the normal deadline. This can happen if they haven’t yet granted admission to their targeted number of incoming students, and it could offer you an unusual second chance to get your application in. If you’re down to the wire and want to know if applying is still a possibility, call the school’s admission office. If they're still accepting applications, get yours in ASAP!

The advantages of rolling admissions
There are some advantages to applying to colleges with rolling admissions.

• If you’ve got your eye on a certain school, you can probably find out early if you’ve been accepted and adjust your application strategy accordingly.
• Rolling admission policies offer you some flexibility if you applied to just one school and didn’t get in, or if you want to add an extra safety school to your list.
• There may also be less competition, but this depends on you. If you apply in December, the school won’t wait until March to compare you with all the other applicants and you could actually improve your chances of being accepted. Remember though, the reverse also holds true: the later you apply, the more competition there may be for fewer spots.

The financial aid factor
Applying to a school with rolling admissions late in the game can also impact your financial aid offer. A school’s admission and aid policies are not one and the same. In fact, they usually come from offices that are nowhere near one another. If you’re accepted after the free money’s been doled out, you could be out of luck and limited to taking out loans.

Before you apply, call your potential school and find out what aid may be available to you. Knowing what you can expect to pay can help you fine tune your list. (For that reason, this is a good idea whether you apply under “regular,” rolling, or early admission.)

No restrictions
Unlike some early application policies, you’re not restricted from applying to other schools when you apply to one with rolling admissions. In addition, some schools may not require you to make your final decision until May 1, under a practice known as the Candidates Reply Date Agreement (CRDA).

If you’re not applying to a CRDA school, the college may request your commitment before May 1, and possibly force you into making a decision before you hear from other schools. Make sure you’ll be granted a delay, in the event that you need one. You don’t want to be forced into committing to a school further down your list when you haven’t yet heard from your top choices.