I am assuming that we all know about the apparent benefits of ED. Apparently, the chances of getting in and securing financial aid are higher.
But I have heard some pretty nasty rumors suggesting that the high acceptance rate of ED can be attributed to the higher number of athletes and intelligent people applying. Is that true? If it is, ED offers no advantage to us (assuming we are all average or slightly above that category) over RD other than less turmoil and faster decision, right? And about not getting to compare aids from different schools, that's another problem too.
And what happens if the college accepts you but doesn't offer your required aid? I understand that in the case of college not meeting your "need", the binding contract will be terminated as per the ED agreement. But my problem with this is who defines "need"? Lets look at it with an example; a college has $45000 CoA, and they determine your "need" to be $30000. So you are in trouble! You can neither terminate the contract (since they are meeting your "need"), nor pay $15000 a year.
Can this situation arise realistically?
If this can happen, isn't ED more trouble than it's worth?