What determines backing out of ED?

Step 1…get a budget from your parents. Stick to it. Do you know if your family will qualify for need based aid?

Step 2…run the NPCs of each college on your list. If the estimated COA isn’t close to your budget, take the school off the list as others have said.

Financial aid is based on what the college determines your family can afford based on FAFSA and/or the CSS Profile. Colleges can distribute their money to whom they want and the way they want. Again, run the NPCs first.

Now, big disclaimer. Many, probably most NPCs aren’t yet set up for 2024-25 FAFSA changes (some significant changes coming this Fall that may or may not impact you), nor 2024-25 COA. What this means is that at schools that don’t meet full need, you should increase the NPC’s estimated COA by at least 4% to reflect the COA that will be in place for 2024-25 to more accurately reflect reality.

Lastly, you can back out of ED if the FA offer isn’t affordable, but you should have a sense of affordability before applying. NPCs may not be accurate if your parents are divorced, own a business, or own real estate in addition to a primary home…are any of those the case for you?

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