ttparent

Moreover, it happens to good responsible folks too. Sometimes they lose their jobs, or gotten sick, or just sometimes make simple calculation or estimation mistake or unclear about certain rules. There will always be people that are looking to game the system but I can't imagine that is a sizable chunk of ED applicants. Let's not lump everyone into one bucket.

xiggi

People who have been here a long time have learned to understand the frailty of absolutes. When it comes to financial aid, for many middle-class families, it is very difficult to predict the results of the Profile (FAFSA is a lot easier for most people.) On the other hand, there are plenty of applicants who have a ZERO EFC or easily qualify for Pell or SEOG grants. Many of those students should NOT fear applying ED , and this despite needing the maximum available financial aid.

In so many words, needing financial aid is not incompatible with the ED. Your right to "shop" around is drastically limited. This is why some take a shortcut on CC when advising to stay away from ED if needing finaid.

On a last note, it is good to see how program such as Questbridge have helped many students navigating the arcane waters of early decisions and, in fact, helped many working around the most limiting rules.

'rentof2

I agree, xiggi, but I will add that no one I have personally talked to (either in person or in PMs from here on CC) applied ED with a 0 EFC, and it still all worked out just fine.

It's not like it only makes sense on the extreme edges of 0 EFC or needing no financial aid at all.

Where families need to compare offers, or for whatever reason cannot estimate what aid they may qualify for, or are looking for the best merit opportunites... then, yeah, probably not a great idea!

Should a student from a family like that apply ED and not be able to afford to attend, I still haven't heard any convincing evidence that they would be given a hard time or somehow punished with regard to their RD applications.

Sybbie posted this quote from Columbia: "All the Ivy institutions will honor any required commitment to matriculate which has been made to another college under this plan."

But still, this is referring to a student has not gotten released from the ED agreement.

I just don't see any evidence that colleges are trying to make this difficult for students and families. In fact, if they were unyielding in this situation it would set them up to look even more like they were further priviledging the privileged with their ED program. I can't think of a college that would get within 100 yards of that.

PaulH1961

I called a very nice university to inquire what is our EFC for an ED acceptance. They asked a few financial questions and said your EFC is approximately X to Y dollars. Thus, just call the school’s financial aid office and ask.

sybbie719

Paul,

You are correct that most schools will give you an early read and estimate what your EFC will be if you request it. They willl not set it in stone because the estimate is as only as good as the information given. However, the estimate does give the family a jumping off point for knowing if they are going to financially be able to swing it.

As others have mentioned the one disadvantage you lose is your ability to compare offers. I can say from experience in my house that FA packages can vary drastically even at "no loan schools." As I had posted before, in my house there was a $10,000-12,000 gap in the 7 "elite" schools that my D was accepted to and we sent the same information to all schools. There were differences in student contributions, work study, and we had 7 different EFCs.

For the most part, If one does their due diligence, (run their numbers through the FA calculators using both the federal and institutional methodology) getting an early read, they should have some idea of what they can or cannot financially swing. I think the biggest caveat whether you apply ED, is making the most informed decsion especially where the $$ is concerned.