Deferring admission?

So as time ticks by and my house is not selling, I have to think about my options. It’s so disappointing to get this far, have 3 acceptances, and realize that I may have to put off my dream for yet another year. And even that is contingent on whether a school would grant me a deferral. Does anyone have any experience or info about that process? How far in advance does a deferral request have to be made? What are the chances that it would be granted, and what is considered a valid reason for such a request? With only 4 months until start of med school, I have to figure out my options and establish a timeline. I know I’ll need to call the school, probably this week, but I want to gather as much info as possible so I have some idea what I’m asking them for. Thanks

Hi Switz.

Sorry to hear about your dilemma. I can’t speak too much about deferred admission, but this is what I know from my own reading.

If schools offer it, it is because they know that s**t happens. I believe it is usually granted, and my top choices give you till June to request it.

While not being able to sell a house is not like the end of the world, I am sure they will understand the financial issues involved.

Now I know it would not be ideal, but I heard that the rental market is doing pretty well. That brings a whole lot of issues with tenants, and I, myself, would probably not consider it, but when worse comes to worse. Besides, nothing guarantees that you will be able to sell your house the following year. The market is very bad right now, even in Texas, where prices have not dropped so much. There are at least 4 houses for sell rent in my own neighborhood and all went from selling to renting.

I don’t mean to be depressing there, just to mention other possible options. The question is what if you defer and next year your house is still not sold???

A final option would be to factor in the cost of the house in your student loans. In the end the house will still be yours. And perhaps along the way, a rental or even a sell may be possible. This option still seems better than foreclosure in my opinion.

In anyway, good luck.

hey switz, i’m in a similar real estate dilemma but we’re trying to re-fi under HARP2 to get the monthly payments down. regardless, we are going to rent our place.

when i interviewed at pritzker, some of those students told me that the administration granted them deferrals and said they knew they’d be good doctors so if they had to take some time off to get their lives in order then that was fine. so i know that’s only one school but deferment seems like it happens at many schools. it can’t hurt to ask. if anything, their replies may help you narrow down your list!

Thanks for this info Shawn! Calling BofA later today.

Looks like BU is opting to hold out longer than usual to give us an answer. Oy.

So according to BofA, because our house is on the market we are not eligible for HARP-2. I’m also not eligible for any loan modifications because no one has died, no one is sick, my house hasn’t burned down, and I pay my bills on time. So back to looking for other alternatives. ugh

Switzerland -

Here I am near the end of year 2. My house has still not sold. The glide year, my daugher was living in it. The first year of med school, a couple from my church needed a house to rent and my daughter was still in the area so acted as my “property manager”. This year, she is married and in another state. I hired a property management company. The house still costs me about $100/month but I can absorb that from my monthly budget for living expenses for med school. The rent covers the mortgage but not the $100/month for the property managment company but it is worth it to me to have the place looked after. You might consider it.


I actually deferred my admission when I was accepted. It was actually very straight forward for my school.

I called and talk to the admissions office and told them WHY I was deferring and they said ok. That was it!

The longer you wait, the more likely the school will not like it, since you are holding a spot that can go to somebody else.

Nobody here will be able to give you specific numbers or answers, just call and be honest.

I would suggest renting as well - to a well qualified tenant through a reputable property management company.

I rent the house I’m in, not by choice. However, the landlord, and the mgmt company, have made it almost a dream. It’s like owning my own home except they pay for the repairs, if required. In return, the landlord gets an excellent tenant who takes care of the place. In his situation, he’s so far underwater with the mortgage he can’t sell it now (or in the foreseeable future).

To me, this is win-win… I get a decent place, he gets his mortgage paid.