Definition: Rolling admissions is a term you will encounter at private schools which have no fixed admissions deadline. Instead of having a firm admissions deadline of January 15, for example, the way most private schools do, a school with rolling admissions fills its places on a first come first served basis during an applications window of so many months. There is usually a start to the window specified. The window stays open until all places are filled.
Rolling admissions is a somewhat more leisurely admissions process than the fixed deadline admissions process. The only major disadvantage would be applying for financial aid. Make sure you apply for financial aid as early as possible as the pool of aid available is usually limited at most schools.
Find more terms in the Private School Glossary.