Your application moves from the early round into the regular pool and will be read again alongside everyone else. It is not a rejection and it is not a waitlist. Deferred applicants at highly selective schools are admitted at roughly 5 to 20 percent — several times the waitlist rate.
A deferral changes the shape of the rest of the list.
The most common real cost of a December deferral is not the decision — it is the two weeks of lost work that follow it. The regular applications still need finishing.
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