<p>“Early Decision is binding. Once you apply and they accept you, you are forced to go to that college.”</p>
<p>But if you apply for financial aid at ED time, you are free to accept or decline the offer. If it’s not enough to support attendance, you say thanks but no thanks, and apply RD elsewhere. Try to imagine there were some way to compel attendance, with the student then expelled when the bill couldn’t be paid; it doesn’t happen.</p>