<p>You do realize that if you are released from ED because of money it will be to attend the financial feasible option- usually your state or local university? If your other schools are also profile schools, what makes you think that they will suddenly use the information differently than the ED school. If they use the information in a similiar way, then those schools will also be unaffordable to you. </p>
<p>You really need to have a financially safety or a school that you can afford to attend. If you don't have one, you may find your self without someplace to go.</p>
<p>Also "covers 100% of financial need" is not the same as giving you 100% of the cost of college. It means that the school will cover the gap between what they determine can be paid based on income and assets, not what the family says they can afford and the total cost of the education. I hope that you and your mother have determined an amount that you can afford. I agree with Sybbie that based on that amount that you and your mother can afford you should have a financial safety school acceptance secure in case you have to back out of your ED commitment.</p>
<p>for example, harvard EXPECTS students to earn and CONTRIBUTE from their summer earnings, they figure you should be able to earn 150-200 a WEEK.</p>
<p>So even if they paid for EVERYTHING else, the student is STILL going to have to pay for something</p>
<p>"If a student is not able to save enough of their summer earnings to meet all of the expectation, it may be possible to receive a loan through the Harvard Loan program to obtain the necessary resources."</p>
<p>Their policy seems to take the heat off parents contributions without absolving the STUDENT of any contribution.</p>
<p>I would like to figure out how much aid I have before even considering backing out.
I probably don't have a financial safety I suppose, and I most likely won't be able to find an acceptable one. I can still apply to a good school that will give me good financial aid for spring admission later on, can't I?</p>
<p>Yes, don't back out until you know what the final aid figure is. But I do hope you are talking to your mother so you know how much can be afforded for college. You had a low EFC, did you have some FAFSA-only schools on your list?</p>
<p>In May, the NACAC will have a list of schools that still have openings. Unfortunatley, if you wait until later, all of the FA monies will already be disbursed leaving you with no $$ even though you may have a financial need.</p>