Early Decision and Financial Aid

thumper1
Tue, 24 Jul 2007 09:43:45 +0000

yeah, I would say don’t worry about financial aid thing. Just apply ED, a lot of colleges will let you break the ED agreement if you can prove that their financial package is inadequate.>>




This is NOT good advice, in my opinion. Remember that the school can MEET your financial aid with hefty loans included in the package. If a school, for example, met your full need with more than 50% of the cost being in loans, they would STILL have met your need. You would not be able to prove they didn’t meet your need…and they wouldn’t care that they didn’t meet your need with grants and scholarships (free money).

DO NOT APPLY ED if finances are a significant consideration. You will not be able to compare financial aid packages or discuss your awards between schools. ED is binding. As stated above, when you make a decision to apply ED, you also make a decision that you WILL attend that school if accepted, and you must withdraw all other application upon acceptance. Remember too, that sometimes the finaid does not come with the acceptance package. You may get your ED decision in January, but your finaid will not come until it’s way too late to apply elsewhere.