He says that because we will not qualify for any financial aide we should wait and see what offers come in and compare them. I was looking forward to the higher admit rates and thought my son should select a first choice for Ed. He is a junior. would be for next fall.
Applying ED means that you will not be able to compare merit aid offers, should your son get any. Are you looking for merit aid?
If it appears that you will not receive need-based aid, and hope to compare merit offers when they begin to roll in, then no. ED is likely not a good choice for you.
I agree with the financial planner in this case.
@“Erin’s Dad”
“Applying ED means that you will not be able to compare merit aid offers, should your son get any. Are you looking for merit aid”
Ok, I know this has always been the doctrine, and it very well may still be.
But schools having been moving their EA merit announcements earlier and earlier.
D2 is applying ED to one school and EA to 5.
All 5 are stating merit will be announced by 12-15-16. In addition, 4 out of the 5 are releasing any financial aid at the same time. ( obviously a change due to prior-prior.) ALL apps have to be by Nov 1.
If she were accepted ED (decision due 12/31), how am I not able to compare offers ??? things are changing…
It is very possible the window for accepting your ED acceptance will be sooner…and smaller. You just might not have all those EA offers by the time you have the ED acceptance.
It is NOT a matter of comparing offers. If you can afford the Ed school your student is morally obligated to attend, even if another school ends up cheaper.
@thumper1 all an applicant has to do is call the school and they will give the actually dates for most of these issues. If the dates don’t work, so be it but my point is a lot of the old “rules of thumb” are just that…old.
Not old news…even last year…EA financial aid awards were not sent as early as told by the schools. We had several friends who patiently waited for a couple of extra weeks.
But it might work out for you.
Of course…this could change the landscape of ED in future years.
@s3 perhaps I did not express myself clearly: ED is a commitment. If you need to compare merit aid offers, do not apply ED. @TomSrOfBoston is 100% right.
yes, each situation is unique, but landscape is changing.
The landscape may be changing but the ED agreements have not changed.
ED schools will not like folks gaming the system. If they believe other offers can be compared…I very much think the ED deadlines will be earlier…and the Windows for acceptance will be reduced.
But that is off topic to this OP.
This OP sounds like need based financial aid is not an issue. Merit is what he is hunting. So…I would agree…apply RD for merit. Anyone applying ED is saying they WILL attend. No motivation to send merit awards.
Are you sure ? And I’m not being facetious, but prior-prior has is changing a lot, especially on the ED/EA front. It is the schools themselves that are saying the EA info will be released in time to compare to ED.
Whenever a rules based system is adjusted there are unintended consequences, that is what may be happening here.
The ED rules have not changed. A student who applies ED is saying that he/she WILL enroll if accepted, unless the net cost is not affordable. Being able to compare EA financial aid offers changes nothing.
Read the ED agreement!!! It does not allow shopping for a better offer if their offer is affordable. Your planner and everyone here has told you one thing and you refuse to believe it.
This family is looking for merit aid…not need based aid. S3 is the one who wants to complain offers.
My point is…no incentive to even give merit awards to ED applicants. These students are already saying they will attend.
The prior prior business applies to NEED BASED aid anyway. Nothing about merit awards being included in these early awards.
It depends on the school. If your son has a first choice that does not give merit, and you can afford it, then ED is the way to go
@thumper1 said
So it sounds like you’re saying schools are either stingy or completely non-giving of merit aid to ED admits. But is this true?
I would hope not…schools should be just as generous (or maybe more so) to the group of students willing to forego all other options for their first choice school and handing that institution a nice large group of guaranteed matriculants who are in love with their choice.
My small bit of anecdotal data: 2 of my kids applied and were accepted ED to Univ of Rochester and each got merit aid. So at least one school doing it right, IMO!
My point is…the whole use of prior prior is for NEED based aid. It is very possible that need based packages will be sent with early action admissions… it not necessarily merit.
@s3 was anticipating comparing packages…the OP wanted merit.