<p>Am I to assume that applying ED should only be used if you can write out a check for full tuition if needed. With the cost of tuition for private schools so high and most families in need of some or full aid to attend, it almost seems that ED would be prohibitive to all but a few families. And what do schools and families do if the package isn't enough for ED acceptees?</p>
<p>Yes, you should only apply ED if you are sure that finances won't be an issue. There is certainly financial aid available from lots of schools (all?) for Early Decision accepted applicants, but there is no guarantee that it will be sufficient. If it is not enough, it is very difficult to get out of the ED contract that you must sign, though it can be considered an acceptable reason to back out of it. But it's not easy. Therefore, tread very carefully down the ED path...</p>
<p>You could refuse to go to certain schools like Duke, Cornell due to financial problems under ED.</p>
<p>Just had another thought. Even though it may be possible to get out of an ED contract due to financial constraints, you would not be able to compare what other schools might have given you because you must withdraw all other applications if you are accepted ED. So, you wouldn't know if another school could have given you more $. And, if you get more from one school and a second, equivalent, school gives you less, the second school could turn around and up their offer in competition with the first one.</p>
<p>My son applied ED with very high financial need. If you do your homework and you have the right financial circumstances and you're applying to a meets-full-need-with-no-student-loans school, it can be a sensible thing to do. No, you won't be able to compare offers, but if you are confident it's your first choice school and you feel confident the school's aid policies will make it do-able, then yes, ED is an option.</p>
<p>There's a lot of un-nuanced advice about this on CC. If you want to PM me, I'll answer any questions you have. It's certainly something to do with your eyes wide open, but on the other hand if the circumstances are right it can give a student a little better chance of getting into a school with amazing financial aid.</p>
<p>Also, getting out of ED if you <em>really</em> cannot afford a school is not that hard. (First though, talk to the FA office because they may be willing to make an adjustment.) If, on the other hand, you are bailing because you just want to shop around for a better deal... they wouldn't look too kindly on that.</p>