hmm, maybe i didn't word it in the best manner possible. Essentially what I was trying to say was that if you're not going to go to a school after you applied ED because of financial reasons, you have to show them that you truly are in a bad financial situation, otherwise how are they going to believe you?
"Are you then expelled when the bill cannot be paid?"
I don't know about that, but I would expect some sort of action to be taken by the university if you don't pay for your tuition.
"Be warned, though, that such a move risks losing every other college acceptance as well. Early Decision information is shared among many schools, and it's a rare college that wants a student so untrustworthy he will renege on a binding agreement."
"Essentially what I was trying to say was that if you're not going to go to a school after you applied ED because of financial reasons, you have to show them that you truly are in a bad financial situation, otherwise how are they going to believe you?"
They will believe you. Who would turn down an ED acceptance to UPenn with FA unless they really couldn't afford it?
It's binding only after you accept the ED FA offer.
There are definitely people who would back out of acceptance with Penn, that's part of the reason why it's binding. Maybe they change their minds, and only applied ED because it would be easier to get in. This is all hypothetical. Besides, what kind of a university just lets every single person leave that wants to simply because they say they have financial problems? I'm not trying to trash the OP, I'm just saying, looking at the applicant's financial background isn't crazy, it's simply being competent.
"It's binding only after you accept the ED FA offer."
I know that, I was just mentioning all of this in the event that the OP does accept the ED financial package, and later on ends up needing to back out of the contract.
"There are definitely people who would back out of acceptance with Penn, that's part of the reason why it's binding. ... Besides, what kind of a university just lets every single person leave that wants to simply because they say they have financial problems?"
Again, it's not binding until the FA offer is accepted. Every school lets anyone decline the ED FA offer. The financial data has already been submitted upon which schools make their decisions. Only the family can know if an offer is enough; the formulas are general and don't capture every family's situation. Schools allow anyone to decline an ED FA offer so that non-wealthy will apply without feeling they could be trapped.
Yes, you are right. I was simply referring to the potential situation where the applicant initially agrees with the FA offer, but ends up having to back out later because the package ends up not being enough after being accepted.
Who would turn down an ED acceptance to UPenn with FA unless they really couldn't afford it?
Quote:
There are definitely people who would back out of acceptance with Penn, that's part of the reason why it's binding. Maybe they change their minds, and only applied ED because it would be easier to get in. This is all hypothetical. Besides, what kind of a university just lets every single person leave that wants to simply because they say they have financial problems?
I see what happened; I meant between Dec. 15 and Jan. 15 with initially insufficient FA, you meant after Jan. 15 with initially sufficient FA, or effectively without FA, with deteriorating finances. Apple and Oranges; no wonder we didn't understand each other!
