If you're a high school senior or parent, you no doubt have seen the elation and disappointment of this year's college admission decisions season. There are three answers to the question "Did you get in?" Two are of the black or white category. White: "Yes!" Black: "No." The third is of the gray variety: "Waitlist." Now, though, a fourth option is emerging: "Yes, but . . ."

In order to counter the inevitable enrollment dips brought on by students who drop out or transfer to other colleges, some schools have initiated a policy of "conditionally" accepting students. These contingent acceptances require that the student attend a different school for a predetermined length of time and maintain a certain GPA. That's the "Yes, but . . ." option.

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