Applying Early Decision, how is financial aid?

<p>My ED application to Reed is due this Friday, but I'm worried that I won't get the necessary financial aid. My parents aren't the most financially responsible people and sometimes end up living paycheck to paycheck. My dad makes what seems like a lot of money, but we live in the Bay Area where the cost of living is very high. </p>

<p>Statistically speaking, my GPA and test scores don't worry me. I am also confident that my essays will be strong. Should I not apply ED even though Reed is, without a single doubt, my top choice school? Can I back out of the ED agreement if I'm not offered enough financial aid? Thanks for the input.</p>

<p>Here is the rule:

<a href=“https://www.commonapp.org/CommonApp/docs/downloadforms/ED_Agreement.pdf[/url]”>https://www.commonapp.org/CommonApp/docs/downloadforms/ED_Agreement.pdf&lt;/a&gt;&lt;/p&gt;

<p>Edit: Sorry, the link seems to be broken at the moment.</p>

<p>If you want to be able to compare financial aid offers, ED may not be the best way to go. Reed may be your first choice all else being equal, but what if another school gives you a better package? My son is also an ED applicant - good luck whatever you decide!</p>