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Is It Selfish to Wait Until the Deadline to Make a College Choice?

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I am trying to make a decision on which school to attend. I have big scholarship offers from USC and NYU and also got into Princeton, Georgetown and Columbia, as well as three other schools. My friends keep nagging me that I need to decide soon because if I don't take the USC/NYU scholarships, "those could go to someone else and I should free them up." And then they also say if I decline Princeton, Georgetown or Columbia, someone could get off the waitlist once I "give up my spot." Is that actually how it works? Am I hoarding spots and scholarships? Or does it not work that way?

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