Stanford, which offered 1, 078 applicants a spot on the waitlist last year, only to admit 13, has offered just 789 applicants a position on this year's list, said Richard Shaw, dean of undergraduate admission and financial aid.

WSJ: College Waitlists Offer Little Hope

If you applied for financial aid, you should have received a financial aid award package along with the congratulatory admission letter.

FORBES: Accepted, Rejected, Wait-Listed -- Now What?