I think OP who reached out to @CC_Joy is showing maturity and should move his app.
He is unsure of the finances - and that is reason alone to not ED (at most schools). Some say - if the finances don’t work out you can leave - almost promoting that (I think NYU is one) but its intent is binding and OP has doubt that they can go in binding.
Yes, at most schools, ED has higher acceptance rates. But those rates are also inflated by certain classes such as athletes applying early.
Some kids might get into a school ED but not RD. Other kids will get into both.
We don’t know the student’s stats, school applying to or anything else. We don’t know if it’s need blind or aware. We don’t know the upcoming financial changes.
But the fact that they have financial doubt or concern - is alone - reason enough to switch to RD. Until a few years ago, ED meant binding - and schools would pressure you to hold. I saw one school’s stats - and less than 1% of kids admitted ED did not attend. It was like 492 of 495.
Today it seems that the “binding” part of ED has been lessened. But I don’t think it should be - and I don’t think this student should apply ED.
Good luck to the student.