<p>Wanderers, i don’t think that that is an entirely correct statement. You have the ability, under the Early Decision agreement, to wait until you receive your financial aid package before you accept the offer of admission.</p>
<p>It IS binding, yes, however if it is not financially possible to attend the school given the financial aid that the school offers, you can decline the offer of admission. </p>
<p>A girl from my school was accepted to Vanderbilt this year in the ED1 wave. Her parents have property assets from her grandmother, but they still applied for financial aid. She didn’t receive any from Vanderbilt, and the parents decided that $240,000 is too much for them to afford, given their assets are in property. So she declined the offer of admission and is waiting on regular decisions.</p>
<p>I do agree with you that it is a serious matter, and paupopew may be a little too nonchalant about it, but you can be released from the commitment if a school doesn’t meet your needs, even Vandy.</p>