Does EDing hurt chances of Financial Aid (current Penn students?)

[Aschenbach]

<p>I have a couple of friends who aren't applying to colleges early because they are worried that they'd be offered less financial aid if they get in since you sign the binding contract. Is this true? How is the financial aid if you made it in early?</p>

[vonlost]

<p>UPenn uses the Common Application; here’s the ED FA rule:

Should a student who applies for financial aid not be offered an award that makes attendance possible, the student may decline the offer of admission and be released from the Early Decision commitment.

<a href=“https://www.commonapp.org/CommonApp/docs/downloadforms/ED_Agreement.pdf[/url]”>https://www.commonapp.org/CommonApp/docs/downloadforms/ED_Agreement.pdf&lt;/a&gt;&lt;/p&gt;

<p>So why would UPenn low-ball an applicant they want, and run the risk of the FA offer being declined?</p>