<p>This gets debated all the time out here. I think it is horse puckey that if they meet the NPC and you reneg because you still think it is unaffordable, it is considered an “ED violation”. Many families have not familiarized themselves with outside loans, whether they qualify, etc. prior to getting the ED package back. Once they figure out the difficulties, they decide it isn’t workable and refuse the ED acceptance. Or the family has a change in situation (Grandma offered funds for college, now she is not going to after all or something like that). </p>
<p>Not sure how the original school could possibly know if the student took a similar offer later from another school (maybe the student only applied to schools that would give similar packages, hoped for something cheaper, and didn’t get it – and they decided after all to bite the bullet and take out big loans or sell their car or something). But neither colleges you turn down or your GC has any idea what your FA package looks like from another college unless you tell them.</p>
<p>I am not advocating reneging on ED packages at all. And I believe if a college thinks you reneged for reasons other than finances, they MAY blackball other students from your school. And I personally think ED is a bad idea for students who need FA – FA offers varied by as much as $10,000/year for my D2. You have no chance to compare offers in this situation, the school has all the power. Your list SHOULD consist of reach, match, and safety schools that you would be willing to attend – so seeing where you get in EA or RD and comparing prices is a much smarter way to approach this than applying ED anyplace.</p>