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Discover LudwigThe phrase "applicant is waitlisted" is correct and usable in written English.
It can be used in the context of admissions or applications to indicate that a candidate has not been accepted but may still be considered if spots become available.
Example: "After reviewing all applications, we regret to inform you that the applicant is waitlisted for the program."
Alternatives: "the applicant is on the waitlist" or "the applicant has been placed on the waitlist."
Exact(3)
If an applicant is waitlisted for further review and reconsidered during the Regular Decision cycle, admission will no longer be binding upon the applicant.
Yield also comes into play when an applicant is waitlisted.
If an applicant is waitlisted at her dream college, she could consider offering to defer and secure a spot at that college for the following year.
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All applications received after January 11, as well as applicants that were waitlisted during the first round, will be reviewed during the second admissions review process.
An additional 40,000 applicants will be waitlisted for lack of money.
However, in a few cases each year, applicants are offered their choice of teacher or might be waitlisted for their preferred teacher's studio.
Some Early Decision applicants who are not admitted during the Early Decision cycle may be waitlisted and re-evaluated during the Regular Decision cycle.
With an overall increase in competition within the applicant pool, students with stats that were once essentially a guarantee of admission are now being waitlisted or even rejected.
One boy, with perfect SAT scores and class valedictorian, was waitlisted by Harvard.
Being waitlisted is certainly better than being rejected.
(If you've been waitlisted, here's a statistic: of the 996 waitlisted last year, Yale eventually accepted 103 of them).
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com