Applying ED/applying for no regrets?

As a rising senior aka senior in one month and stressing out about life things (EC’s, ack) and the college application process (not much about getting accepted, but I’m sure I will be come December or March depending), I have one major question in mind: to ED or not to ED. My issue is this:

Option 1: Apply to UPenn Wharton ED, though, realistically, my chances of getting in are pretty low. I HAVE visited and loved the campus, sense of student life, and the Wharton program. But, again, low chances largely due to lack of motivation in grades and SAT II’s (I know that’s not everything and I don’t want to start an Asian-fest, so just trust me on this please). I’m thinking of applying so I don’t have any regrets looking back, like the thought that I MIGHT have gotten in UPenn but never tried, but would it be “wasting” an ED chance?

Option 2: I’m visiting WashU and doing an interview there next weekend, so I’m not completely sure about this yet. BUT from my research into WashU, the size and atmosphere seem perfect for me. My admission chance is also definitely better; I’d say a decent chance. That being said, it isn’t the most prestigious and I don’t like St. Louis as much as NYC or Philly (pretty much where I grew up, before moving. :)). Assuming I love WashU as much as I love UPenn, though for different aspects, should I still apply ED to UPenn for the prestige? There’s definitely pressure from my parents, but I’m trying to tune that out…

Option 3: Don’t ED. But then I’m scared I’ll regret having “wasted” the opportunity altogether, and EDing would be a nice relief from the RD process, provided I get in.

Overall, there’s just a lot of uncertainty on my part and the pressure keeps growing. I hope I don’t come off as arrogant, as I’ve basically just bluntly said what’s going through my head right now. So I’m asking if any of you CCer’s have been in this position and, looking back, can give some kind hindsight/advice. If you could, my thanks (as an extremely stressed) is limitless. <3

And sorry for my abuse of parenthesis. I love them.

I had this exact same problem but so far I’m deciding to apply ED for WASHU.
I thought that if I really wanted to go to that alternate school after a year at WASHU (which I don’t think will happen due to all of the positive things I have heard about the college), I could transfer the following year (or at least try).

It would be a safer choice, i think, admission wise. And if I have second opinions, i would have a year to improve myself. Just my opinions though.

This is all assuming I get accepted.

Although both Penn and WashU have higher ED acceptance rates than RD, you should watch out that there are many reasons why they are higher, particularly for Penn. In the end ED won’t be giving you that much of an advantage… although this is arguable for WashU since demonstrated interest is an important factor.

Don’t apply ED because you think you’ll have a better shot. I was almost exactly in your shoes last year (replace Penn with Brown). But think about it. Do you really like Penn and WashU equally? If you got into both, would it be a mind-wrenching decision? You might find, in the next coming weeks or months, that your college preferences will change. They definitely did for me, and by the time the ED deadline rolled around, I was facing the “Brown is my #1 choice but applying ED to WashU would be much, much safer” dilemma, and I ended up applying ED to…none. It turned out fine. In retrospect, I think if I applied ED to Brown it would have been a disaster, considering my essays were nowhere near as polished as they were by the end of December.

Just think about it. You have time. If you think one school is your absolute first choice and you would have no regrets, go for it. If you are still unsure, don’t ED.