May 1 is College Decision Day. Here is what to know about the deadline

May 1 is National College Decision Day. Monday is the deadline for high school seniors to accept offers of admission and place college deposits. This college admissions season has seen record numbers of applicants. Waitlists have been extremely long too. Cynthia Muchnick is a college admissions expert and the co-author of "The Parent Compass." Muchnik reminds students to only accept one offer of admission and only place a deposit at one school.