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UChicago Waitlist, Gap Year explained/debunked?

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Can someone please explain what exactly is going on with a Gap Year option? (1) If you take the Gap year option are you automatically guaranteed (assuming you don't screw up) admission/acceptance to the following year's class? (2) Are you allowed to enroll at a safety school and then transfer after a year without issues/penalties, etc. or does UChicago expect the prospective student to sit on ice for an entire year, or volunteer at a leper colony or do something profound? ;-) thanks in advance.

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