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# This addresses a medical college accepting too many students

A few years ago, a prominent medical college inadvertently accepted more applicants than it could accommodate in its first-year class. Not wanting to arbitrarily delay the entrance date of the students admitted, it offered them one year of free tuition if they would delay their medical studies by one year. Discuss the factors entering into a student's assessment of whether he or she should take this offer.

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This is actually a common occurrence with medical schools, although this was an extreme example. Medical schools often overbook, because they never can estimate to an exact percentage how many students will accept the offer, and begin their studies there. Admissions overbooks the number of students that can attend, and oftentimes offers the students they overbook 40% or 60% off of the full tuition of their first year of studies.

The biggest factor here is what the advantages and disadvantages are for students to delay their studies. I would look at this entire problem and base the solution or factors on basic economics. What is the opportunity cost? I would use the factors for each side of the opportunity cost, as the factors the student must use to ...

#### Solution Summary

The solution provides a very detailed analysis as to the dilemma presented, which is: a prominent medical college inadvertently accepted more applicants than it could accommodate in its first-year class. Not wanting to arbitrarily delay the entrance date of the students admitted, it offered them one year of free tuition if they would delay their medical studies by one year. Discuss the factors entering into a student's assessment of whether he or she should take this offer.

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