<p>I’m considering apply for Wharton ED because I’m into business and it is the best business undergrad. I know it’s legally binding but to what extend? I heard you can refuse the offer if you have financial reasons to do so…But does that mean you can just tell them that the financial aid package is not enough for me, so I will be going to ___? Can anyone explain to me how early decision works???</p>
<p>You have a few weeks (or is it days?) after you receive your decision/package to make a final commitment. </p>
<p>It’s binding pending your own opinion of the financial package.</p>
<p>Thanks thequestionmark! So does it mean that if you don’t like the package you don’t have to go? And this decision is going to come out long before any other schools release their decision right? So you don’t have the chance to compare your FA packages?</p>
<p>IF you are accepted ED at Wharton, THEN you MUST IMMEDIATELY withdraw all other private school applications. You CAN’T wait 2-4 months to see what other acceptances you may get from other private schools. IF you don’t withdraw your other PS applications, and Penn finds out [and the Ivy schools DO notify other private schools who they have accepted ED] then you not only will have your acceptance at Penn withdrawn, you also won’t be accepted at any other private school that honors ED commitments.So you need to be SURE you CAN afford to go to Penn, before you decide to apply ED.</p>
<p>“So does it mean that if you don’t like the package you don’t have to go?”
YES, but your only options will then be to public or state colleges, because you don’t have to withdraw those applications.
"So you don’t have the chance to compare your FA packages? "
Correct, because you are required to withdraw all other private school applications long before RD FA decisions are made.
So just to repeat-
You need to be SURE you CAN afford to go to Penn, before you decide to apply ED.</p>
<p>Not to deviate from the OP’s post, but if you apply ED to Wharton, can you apply EA to other schools? Also, could you apply RD to other schools? That way, if you didn’t make it ED, you’d have other options?</p>
<p>Yes, you can.</p>
<p>@HonorsCentaur: Sorry for my long string of questions, but basically your saying I could apply EA (not-single choice) and RD to all other schools I wished? And simply withdraw the apps if I got in ED?</p>
<p>"basically your saying I could apply EA (not-single choice)
you have to look specifically to see what Penn allows. Some ED schools will not allow ANY other form of Early application to other private colleges. Early applications to public schools OR early applications to private colleges to meet deadlines for scholarship consideration [ like at WASH U or USC] are allowed.</p>
<p>If you are applying Early decision and apply for financial aid, you do not have to commit until you see your package. If it is not enough, then you can appeal it, and if it does not work out in the end, then Penn will release you from early decision. This is the only circumstance in which this happens. Penn doesn’t want to discourage students from applying early because they are afraid they will be unable to pay. This is what I have heard from admissions.</p>
<p>What if both your parents lost their job in March/April, after college decisions were made and you were no longer able to afford Penn? Would the only option be to reapply the following year?</p>
<p>They will release you…but if after that the only option is state school then that’s not rly an option now is it?</p>
<p>@hardworking: yes, you can apply ED to one school, EA (but not SCEA) to as many places as you want, and RD as many places as you want. If you get in ED, though, you’ll have to withdraw other applications.</p>
<p>I have heard that schools like Penn will try very hard to make the cost affordable. It’s in their best interest that they do not have to release you.</p>
<p>@HonorsCentaur: Thank you . That’s the most clear-cut answer I’ve gotten.</p>
<p>Yes but there are some special cases so you need to read each school’s policy. If you apply to Georgetown EA, you are not allowed to apply anyway ED, and if you apply to Brown ED, you are not allowed to apply anywhere EA (only rolling).</p>
<p>So is it for all cases that if you are released from a ED program, you’ll have to go to a public university? (state university)</p>
<p>No, I think that you don’t have to withdraw your applications until you finalize financial aid. Maybe double check with admissions, they usually are pretty helpful in answering questions.</p>
<p>“I think that you don’t have to withdraw your applications until you finalize financial aid.”
That is INCORRECT. YOU DO have to withdraw all other applications by the Jan 1 deadline if you are accepted ED. THAT is why students should ONLY apply ED is they can AFFORD to go to that college. ED is not a way to negotiate FA between colleges!! If you are not SURE you can afford to go to Penn, then you should apply RD.</p>
<p>this is from Penn’s admissions website:
For those applicants who have already decided that the University of Pennsylvania is their first college choice and who agree to matriculate if accepted, we encourage application under the Early Decision Plan.
Those admitted must respond to us by January 1, since there is a commitment involved.</p>
<p>Yes, but they are a lot more lenient with people who need financial aid. I have heard this from actual people who work in admissions. They do the best to make it affordable for everyone, and in the rare case that it absolutely doesn’t work out, they release you. However, ivy league schools are among the few that try to meet 100% of need and are need-blind. They do not want to prevent people from applying early because they are afraid they won’t be able to pay.
But again, I would contact your regional director to clear this up.</p>
<p>The point is not whether penn is generous or lenient, which it is in many cases, the point is where else students can apply, IF they do not accept an ED acceptance. Because Penn WILL let other private colleges, including all the Ivys, know who they have accepted ED, and THOSE colleges will then NOT accept that student RD. Private colleges consider ED to be a binding contract and commitment by the student and the HS counselor that signs that ED contract, regardless of how students later try to justify wiggling out of that commitment. Students need to realize up front that trying to “game” the system, by applying ED, when they don’t know IF they can afford Penn, are more likely to find themselves with far fewer college choices come April 1, if they find they can’t afford Penn.</p>