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This study utilized matched pairs of 10,320 students who were enrolled on course waitlists at the City University of New York (CUNY) from spring 2014 to fall 2021 to investigate the impact of course scarcity on course enrollment decisions and college progression. Results revealed that for students who enrolled on waitlists, not getting into the course off the waitlist resulted in an average of 1.5 fewer credits earned that term. This impact on academic momentum varied by race/ethnicity, with Hispanic and American Indian/Native Alaskan (AI/NA) students most negatively affected when they did not get into a desired course.