<p>I have the impression that HYPS + ? announced the changes in their financial aid policies after the ED application deadline this year. (Don’t know for sure . . . maybe someone could confirm or contradict this?) If they did change the fin aid rules post ED app deadline, but prior to their own application deadlines, then it seems to me that the people at HYPS + ? making the decisions did not adequately consider the potential impact on ED agreements elsewhere–or at least, on the feelings of those who had applied ED elsewhere.</p>
<p>I think the estimated family contributions can be quite steep. And I can definitely sympathize with someone who might be thinking, "But I could have gone to Harvard [Yale, Princeton, Stanford, ?] for FREEEEEEEE . . . "</p>
<p>That being said, if I were in the OP’s situation (or the hypothetical situation of the purely hypothetical individual who is merely hypothetically thinking about hypothetically breaking an ED agreement) –</p>
<p>I would honor the ED agreement, simply because I had signed it. The later changes in financial aid policies elsewhere don’t invalidate the agreement. Also, I would expect everyone in my family to honor the ED agreement, if he/she made it.</p>
<p>If my guess about the timing of the announcement of the new fin aid policies is right, then I think that the decision-makers at HYPS + ? have exposed students to a moral hazard–i.e., the temptation to break ED contracts–with their timing and they <strong>should have thought more.</strong> </p>
<p>(Actually, that could apply to the OP’s scenario, and for that matter, it could be my own motto, for other reasons.)</p>
<p>Ignore this paragraph in the OP’s case, since it was obviated by other posts. The OP seems to have a way to go around the normal procedures. But for others, it might apply: But, in any event, I think this is all moot if the mid-year reports were not submitted by the guidance counselor. And if the guidance counselor is ethical and also well-organized in terms of paper-work, they won’t have been submitted. No mid-year reports = no admission to create temptation.</p>