<p>I already know the opinion that most people hold of those who go back on an Early Decision agreement. I would hope that I am a special case. I will preface this by saying that I am considered an independent student on the FAFSA, and my parents are largely “out of the picture”. My family expects me to pay for the entirety of my college education, and I have only been able to save about $1500 for school. I was accepted to the ED program at RIT, and I put in my acceptance deposit as well. I love the school, and I was confident in my choice They gave me a fairly large financial aid package, but it also included loans that would put me $40,000+ in debt after college (I still need to pay $6000 a year for tuition, and that is not before books and living expenses). The University of Delaware has offered me a package that would cover everything (even books) because of my FAFSA. Is there any kind of blacklist for this kind of thing? What will happen if I back out? I need to know before I move forward. I have no parents to back me up with college costs, and this is very hard to handle at 17.</p>
<p>Unfortunately, you were poorly advised. In your situation, I would not have recommended applying early decision.</p>
<p>As to your question, the early decision agreement says:</p>
<p>“Should a student who applies for financial aid not be offered an award that makes attendance possible, the student may decline the offer of admission and be released from the Early Decision commitment.”</p>
<p>As to $40,000 in debt vs a free ride – one could argue this either way. It is POSSIBLE for you to attend RIT with the debt. </p>
<p>In any event, my guess is that if you speak to RIT they will let you out of the agreement, and there will be no problem. If they don’t, I don’t think it would be enforceable and I don’t think you’ll have a problem with Delaware. However, I do not know this 100%. If you have a good guidance counsellor, you should speak with him or her.</p>
<p>FWIW – given the language in the ED agreement, if I were you, I wouldn’t have a moral problem with rescinding my acceptance.</p>