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February
Even though your second semester grades won't be released until after admissions decisions have been made, they'll still impact several things.
First, of course, is graduation. If you fail a required class, you're not going to graduate. If you don't graduate, all bets are off. A second possible impact would be on scholarships. Plenty are based on year-end class rank, and if you're requesting a review of your financial aid package, strong final grades can certainly help. A third possibility: a college's offer of admission could be rescinded if you royally screw up your final grades. And your second-semester grades truly matter if you've been waitlisted. By submitting strong grades for your senior year, you're giving the admissions committee one more reason to review your application favorably. The fourth point, of course, is if you're taking Advanced Placement classes your senior year, you'll take AP exams in May. Since most colleges give college credit if you earn a high enough score on these exams, you'll certainly want to do well in those classes so you won't have to pay to retake them one you're enrolled.
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