<p>Early Decision and rolling admissions generally refer to two different programs. </p>
<p>In Early Decision programs, there is one set date (sometimes two) by which a student must apply to be considered for ED, and a set date (sometimes two) by which the college will act on the ED application. (Generally, students must apply ED before November 1, and colleges will decide by December 15. A number of colleges offer a second round of ED with applications by January 1 or sometimes January 15 and decisions by February 15.) Furthermore – and most importantly – the student must agree as part of the ED application to enroll in the college if accepted ED, and to withdraw all applications to other colleges if accepted ED. Not all applications submitted by the ED deadline(s) are considered ED applications. The student must specifically request ED, and generally the student may ask that his application be converted to a regular application at any time before the ED decision is made. When the college makes its ED decision, it will either accept the student, reject him, or defer a final decision to its decision date for regular applications (in which case the student will no longer be bound to enroll if ultimately accepted).</p>
<p>Because ED acceptances are binding on the student, the student will not be able to compare financial aid offers from various colleges before deciding where to attend. That understandably tends to suppress the number of ED applications a college receives. Because a college’s “yield” on ED acceptances is theoretically 100% (and practically very close to that), colleges that care about their USNWR rankings and their perceived selectivity will often admit as much as half their classes ED. Also, admissions staffs are generally more likely to take a risk on an applicant if they know their college is the applicant’s first choice. The combined result of these three factors is that ED acceptance rates are often much higher than the regular decision acceptance rates for the same colleges. In essence, ED involves a bargain between student and college – the student gives up flexibility and the ability to comparison shop in return for a better chance of acceptance to his first-choice college.</p>
<p>Rolling admissions programs are generally not separate from a college’s regular decision process: rolling admission IS the regular decision process. Under rolling admission, the college will consider applications as they are received. There is usually no set deadline for making a decision – the college may accept or reject a student in a matter of days or weeks, or it may defer a decision on a particular student until it gets more applications (usually without formal notification to the student that this has happened). Students who apply in September can be admitted or rejected as early as late September, and as late as April. Students admitted under rolling admissions are not bound to attend the college, or to withdraw their other applications, and they have until the normal May 1 deadline to make a commitment to enroll in that college or not.</p>
<p>Generally, there is a perceived advantage in applying as early as possible to rolling decision colleges. As the class fills up, and more applications are received, admissions standards seem to tighten. But the difference is nothing like the differential between ED and regular acceptance rates at ED colleges.</p>
<p>The two types of program are pretty much mutually exclusive. I do not know of any college that has BOTH a rolling admissions program and an Early Decision program, although theoretically I suppose it could happen. (EDIT: Wake Forest does indeed seem to have a unique rolling Early Decision program. Drexel’s is not an Early Decision program, but it does seem to do rolling admissions starting in January.)</p>
<p>Lots of public universities have rolling admissions – maybe even most of them.</p>