astults13

First off I apologize if a similar thread has already been posted.

Next year I'll be applying to multiple colleges that offer ED. I live with just my mom who makes less than 40k a year, and a quick estimate of EFC was $0. I know the biggest reason for why one shouldn't apply ED is because of financials, but most of the highly selective schools I plan on applying to offer very generous financial aid. So would you recommend that I apply to a school ED if it were to increase my chances of acceptance?

Also, has anyone rejected an acceptance from ED because of financials, and what was the process like?

entomom

Read the ED agreement closely, you can only apply to a single school ED.

Even within the selective colleges, relatively few do not include loans in their FA packages.

While applying ED can be a strategy for lower income families, I would do more than make a 'quick estimate of EFC' before taking this route. Read the FA policies carefully and run NPCs, but be aware that these are only estimates. Also, while you may live with your mom, Profile schools require financial information from both parents.

astults13

What do you mean by profile schools? I haven't talked to my dad in years, and the last time he filed his taxes was when my parents split in 2003.

Also by quick estimate I meant I filled out an EFC calculator on Purdue's website with accurate information, and if said that my EFC would be $0.

T26E4

"I haven't talked to my dad in years, and the last time he filed his taxes was when my parents split in 2003."

You should read the specific college websites' info about non-custodial parents who will not be a source of information/documentation/funding. The have instructions for that.

dukedad

If you have significant financial need, I would recommend only considering applying ED to one of the 60+ schools that guarantees to meet your full need (note that Purdue is not on this list).

Colleges That Claim to Meet Full Financial Need - US News and World Report

If a school does not promise to meet full need, you are really swinging blindly by applying ED - there's no telling what you will get in addition to the federal aid that you are entitled to (Pell, Stafford sub loan)

Most of the schools that meet full need will do so by first offering you self-help aid (Stafford loan and work study) that will amount to about $7500. Most will then cover the rest with institutional grants. You should definitely check the specific policies of each individual school, as well as carefully entering accurate data into the schools NPC.

entomom

There are two main forms to fill out when applying for need based FA.

All schools use the FAFSA for Federal funds.

For Institutional funds (those coming from the college), some schools use the Profile. The Profile asks for much of the same information provided on FAFSA and more. Also, as T26 said, you need to check the college websites for instructions about non-custodial parents.