With all the uncertainty seems to me that students that had to commit to their ED schools might find themselves unable to finance their education. Wouldn’t this experience make ED less of an option for the next few years to prospect students?
No one is making you apply ED. If you don’t feel comfortable with the commitment then don’t do it.
I don’t see that happening.
ED has never been binding if you cannot pay for a school that accepts you. Though the standard route is to apply for Financial Aid and allow the school to offer you a package, colleges have always released students from the agreement under dire circumstances. A change in financial situation making payments undoable has always been an escape clause. I know families who have gone from full pay able to unable to meet living expenses due to job loss, illness, catastrophe. I would call this current COVID19 crisis a catastrophe for many families. I know our family income has been impacted and will likely be on the downtrend for the next year at least.
Personally, if I had a student with college acceptances in hand right now, the financial scene would be very different for us from what it was last year when applications were submitted, certainly any ED apps. It would be a foolish financial commitment to make to pay 4 years of $80k college costs if much lower options are available. Also travel very far, by air vs car, would not be a choice Id want to support. We would have been in the tipping point of such commitments with all things optimal. A disaster of this magnitude would knock us out of contention for a full pay, far away school.
Probably the opposite, if anything.
For class of 2020 who were accepted EDI/II and find a change in financial situation makes the school unaffordable now (parents have a lost a job, etc.)…they should speak with the FA office ASAP.
If the FA office can’t offer more aid, unfortunately the student will have the choice to somehow pay the ED school costs, apply to a school still accepting applications (renege on the ED school), or take a GAP year and go thru the app process again. Once the NACAC list publishes, (likely at least a partial list in the first week of May), there will be some more colleges looking for students at that point.
Class of 2021 and beyond…ED will be as it always has been. Don’t apply if the NPC shows it’s not affordable, or if you want to compare offers, or if you want to merit hunt.
ED will remain for the class of 2021. However, you can expect fewer ED applicants this year and colleges more keen to accept ED applicants. The combination will make ED acceptance rates rise significantly this coming college application season. The criticism of ED will also intensify as it makes inequality in educational opportunities more crystal clear.
ED is never binding if the FA package is inadequate.
Agree, ED is not binding if FA is deemed to be not adequate by the family.
Non binding Early Decision is basically Early Action. A number of colleges offer EA. People who want an early acceptance and don’t want to commit to a school should look towards EA schools and/or schools with rolling admission rather than ED schools.
With the issues at hand wonder how the yields will look like if financially parents are impacted.
But what about if they go online in the fall?