These students are still considered good prospects, however, and the college would like to keep the option of admitting them. Wait list students are not required to give a deposit, but they are asked to inform the school if they would like to be kept on the list.
Some colleges have more than a hundred names on the wait list, some have five or fewer.
It's always difficult to know what your chances are from the wait list, but if the school is one you really want to attend, give a deposit elsewhere and stay flexible and available. Some wait list students are notified of admission only several days before the start of the first semester.