I don't understand NYU's schooling system...

<p>Is it possible to apply ED I to NYU Stern and if I get rejected, apply ED II to NYU CAS? How does this work?</p>

<p>Is it so that if I apply to Stern and get rejected, I have absolutely no chance of going to NYU at all? Or can I still be considered for CAS, since it says “if we are unable to give you a spot in the program/school you are applying to, would you like to be considered for another school at NYU”? What does this mean?</p>