Welcome to College Confidential!

The leading college-bound community on the web

Sign Up For Free

Join for FREE, and start talking with other members, weighing in on community discussions, and more.

Also, by registering and logging in you'll see fewer ads and pesky welcome messages (like this one!)

As a CC member, you can:

  • Reply to threads, and start your own.
  • Post reviews of your campus visits.
  • Find hundreds of pages of informative articles.
  • Search from over 3 million scholarships.
Please take a moment to read our updated TOS, Privacy Policy, and Forum Rules.

ED Financial Aid

AstralWandererAstralWanderer Registered User Posts: 89 Junior Member
How long do I have to decline my ED offer if i don't get enough financial aid?
«1

Replies to: ED Financial Aid

  • TTGTTG Registered User Posts: 578 Member
    Students cannot decline an ED offer if they don't get enough financial aid. Under ED, you commit to the school and it commits to you. The upside of ED is a student gets preferred consideration; the downsize is that they are fully committed to the school regardless of aid.

    You contractually commit to the school when you apply ED and must pay whether or not you receive financial aid. Schools will generally allow students to apply for a waiver from this commitment but are very stingy about granting it. Several schools have addressed this at info sessions we've attended, and all basically said they will only grant it to a handful of students annually and only in cases where financial circumstances are exceptional, for example a parent's loss of a job.

    Also, by applying ED, a student generally commits to withdrawing all other applications. Since they are committed, it wastes the time of other admission officers to be reviewing an application for a student that already has committed to another school. A school would not be friendly to the idea that a student had gone out and sought a better deal after an ED acceptance.

    If you are going to attempt to back out of an ED commitment, I would advise researching what the school says about this and then apply for the waiver under the school rules if that is an option. If the school does agree to let you back out of the commitment, you would then apply to other schools. A limited number will still allow applications. Good luck!
  • college_querycollege_query Registered User Posts: 3,925 Senior Member
    When you received your offer, was there a deadline for accepting the offer and submitting a deposit?
  • college_querycollege_query Registered User Posts: 3,925 Senior Member
    The language on the Common Application states:
    Should a student who applies for financial aid not be offered an award that makes attendance possible, the student may decline the offer of admission and be released from the Early Decision commitment.

    And when you apply ED, you don't withdraw all other applications. You withdraw all other application and agree not to apply anywhere else when you are accepted.

    Full language on the Common Application (also check any language on the specific school's website):
    “Early Decision (ED) is the application process in which students make a commitment to a first-choice institution where, if admitted, they definitely will enroll. While pursuing admission under an Early Decision plan, students may apply to other institutions, but may have only one Early Decision application pending at any time. Should a student who applies for financial aid not be offered an award that makes attendance possible, the student may decline the offer of admission and be released from the Early Decision commitment. The institution must notify the applicant of the decision within a reasonable and clearly stated period of time after the Early Decision deadline. Usually, a nonrefundable deposit must be made well in advance of May 1. The institution will respond to an application for financial aid at or near the time of an offer of admission. Institutions with Early Decision plans may restrict students from applying to other early plans. Institutions will clearly articulate their specific policies in their Early Decision agreement.”

    If you are accepted under an Early Decision plan, you must promptly withdraw the applications submitted to other colleges and universities and make no additional applications to any other university in any country. If you are an Early Decision candidate and are seeking financial aid, you need not withdraw other applications until you have received notification about financial aid from the admitting Early Decision institution.
  • austinmshauriaustinmshauri Registered User Posts: 5,750 Senior Member
    edited February 17
    Students cannot decline an ED offer if they don't get enough financial aid....

    You contractually commit to the school when you apply ED and must pay whether or not you receive financial aid.

    @TTG, It's not true that students can't decline an ED offer if they don't get enough financial aid (see post #3). Students don't have to apply for a waiver to get out of the ED agreement. They just decline it. Nobody can force a family to pay if they can't afford it, and it's up to the family, not the school, to determine if the offer's affordable.

    OP, Your acceptance should have a deadline on it. If you don't get enough aid, decline the offer and let them know why. Do NOT pull any other apps unless you decide the ED school is affordable.

  • LindagafLindagaf Registered User Posts: 6,782 Senior Member
    @TTG, that's not really correct. No college can force a kid to attend if they can't make the finances work. There are always a couple of ED agreements that fall through because of finances. If it is truly a financial issue, the high schools will also be made aware and not be blacklisted. ED is binding,,but not if it literally can't be paid for.
  • AstralWandererAstralWanderer Registered User Posts: 89 Junior Member
    @austinmshauri Yes, but the deadline is for making the deposit I think. What I have read is that if your school's financial package doesn't meets your EFC, you can appeal or reject the ED offer, but you have to do it promptly. I want to know what exactly is considered as 'promptly'?
  • austinmshauriaustinmshauri Registered User Posts: 5,750 Senior Member
    Dates vary by school. Contact yours and ask them. Not all families can afford to pay their EFC. If your family is one of those and your parents determine the school isn't affordable for all 4 years (whether the offer meets your EFC or not), decline it.
  • AstralWandererAstralWanderer Registered User Posts: 89 Junior Member
    Would it be weird if I ask them this before applying ED to their school?
  • austinmshauriaustinmshauri Registered User Posts: 5,750 Senior Member
    You could call and ask how long families usually have to make a decision. I think acceptances contain deadlines, so you'll know. But it wouldn't hurt to ask if you can't find the info online.
  • AstralWandererAstralWanderer Registered User Posts: 89 Junior Member
    Okay, I will, and thank you for your help!
  • suzy100suzy100 Registered User Posts: 4,058 Senior Member
    OP, I saw that you have posted in other threads that you are waiting for RD decisions. Were you accepted at an ED school?
  • AstralWandererAstralWanderer Registered User Posts: 89 Junior Member
    @suzy100 No, I was not. Actually, I was just contemplating about changing my Colgate admissions from RD to ED ,but I read somewhere that it is often that Colgate lacks in the financial aid department, so I made this post to inquire about the possibility to back out if not given enough financial aid.
  • AstralWandererAstralWanderer Registered User Posts: 89 Junior Member
    Actually, I am still not sure if I should do that. You will very soon see a new thread regarding this dilemma. Feel free to comment there.
  • reformedmanreformedman Registered User Posts: 311 Member
    Early Action you are not locked.
    Early Decision you are locked.
    If you apply early decision you must enroll if they accept you.
    The only way out is by speaking to them and proving with your parent's financial papers that truthfully you cannot afford their offer. This looks real bad for the student with admissions to other schools.
    It has been said by some that certain schools can get you blacklisted from sister schools that are connected. In the worse case, it may require the student to take a gap year because the other choices of schools might not accept someone for breaking their agreement.
    Take all this with a grain of salt as this is all what I've read on these forums and I have no proof of any of it.
    Feel free to correct any of this if you know for a fact that these things are wrong.
  • austinmshauriaustinmshauri Registered User Posts: 5,750 Senior Member
    Your other posts indicate that you're an international student who needs financial aid. I wouldn't ED anywhere if that's the case. You'll need to compare offers.
«1
Sign In or Register to comment.