Hey there! This is a great question, and likely one that many are concerned about. I would be happy to answer it for you. We HATE to do applications in Round 3—the odds are just so low that you will get in, especially for the top 3-5 schools. This is especially true for international candidates, where the timing of the application is especially critical. Now if you are based in China, there is another reason to worry about Round 3—there is the problem that you would need to get a visa in a very short period of time. That may be impossible. Finally, you are correct—if you do not get in, you would only have a couple months to improve your application. This is a very bad idea, as you can imagine—after all, the only way to be successful as a reapplicant is to prove that you have improved your candidacy A LOT! And if you cant prove that, you wont get in. Avoid Round 3 if you can—instead, focus on getting your apps in EARLY in Round 1. Even early decision—it will greatly, greatly improve your chances if you can…