<p>Ok my 2 cents: possible= subjective term - what is possible for one is not necessarily possible for another person. This is the crux of the OP’s dilemma. I can see a parent saying that he/she won’t borrow $$ at all since it is no longer necessary due to full ride offer. Talking to Penn first seems the most straightforward course.</p>
<p>I think I am coming at this from a different personal perspective than many others here. Way back when, I would have loved to go to HYP. The one I loved did not have ED then, so no problem, no application. I needed a lot of fin. aid, and EFC was not zero, but parents would not pay anything (a loan for my college - fall off the couch laughing - bravo to those parents who do that). I did get some aid, and I did suffer to pay what I needed to by work, borrowing etc to go to the non HYP that I went to. I would have done the same for HYP if only I had gotten in. To me, I would have loved the perceived (or real) boost that saying that this school is my first choice may have given - no question about it. I could have suffered a lot less to go to state u or even safety school, but to me I wanted to go elsewhere. BTW, my parents played zero part in the decision, and although they signed the fin. aid applications, they read them not (pretty dumb, huh? They gave me a tax return, signed the form, and the rest was up to me. Don’t assume that the parents of the OP even knew what they signed. (yes, that makes them accountable, but not necessarily intentionally devious.) As to the behavior of those in debt, I have seen many who buy that big tv, designer purse or whatever, even though they were already in debt and could not afford it.</p>
<p>I read all the posts above, and I see no ethical fault in the ED process on the part of the colleges in offering it. What I see is complaints by potential FA applicants that they do not get to compare FA offers if they use ED. That much everyone should understand in advance, and if one applies, one takes that condition (in contracts there can be implied conditions) as a given. The FA applicant decries the fact that they will not have an advantage in admission since they must compare offers, therefore the stated mission of the college is a bit of a falsehood in terms of economic diversity… Um this is where I lose this position. If you want a perceived advantage, you must abide by the terms. These are not Constitutional Rights, but a chance to go to a desirable private college for less than the sticker price. The playing field will never be level in this arena.</p>
<p>I also disagree about the fact that ED actually lessens the competition for a spot over RD, even though the acceptance rate is higher. What you will never know, and what I have found no where are published stats for ED candidates. It is my impression, from individual data points of people I know only, that the ED acceptances at Cornell, Penn, Dartmouth, Brown, Columbia and Yale (SCEA - a bit different, but not for my point) are the cream of the cream except for legacy, developmental admits, URM and recruited athletes. If you have a slightly lower GPA or Sat or whatever, this is NOT your chance to improve your odds because it is your first choice school. I may be wrong, but if someone has other data points for students who are not legacy, etc getting in ED to these schools, I would love to know about them. We have heard on cc of kids with 4.0 GPAs, full pay, 2200+ and legacy not getting in ED.</p>
<p>Full disclosure: so many posts posted while I was typing that I did not read the several above my own.</p>