Agreed that ED is a giant commitment (whether UM or elsewhere). My son did not apply ED anywhere. Just seemed like too big a decision to make without knowing all options. Unclear whether kid number 2 will do so. One other thing that I would point out is that I don’t actually think only 20% pay full tuition at Miami. I think the number is higher than that. I could certainly be wrong (no expertise claimed here), but I read this link http://www.collegedata.com/cs/data/college/college_pg03_tmpl.jhtml?schoolId=1047 to say that 38.5% did not even apply for aid, and that of the 61.5% that did, 45.6 were found not to have need. By my math that means 1941 students in freshman class either did not seek aid or were found ineligible. Looks like 876 of that group received merit aid. Leaving 1065, i.e. 40%, receiving no aid of any type. Not sure if this makes the school more or less desirable. But the 20% number above just seemed low to me . . .