Is this possible.
If I apply EA at the same time as ED, and I get accepted ED, can I withdraw the EA app and still meet the requirements of ED… not doing anything “illegal.”
I am thinking this is possible because, one, cb.com says you must withdraw outstanding applications (implying you can apply other places at the same time, but not under ED); As long as I can apply to other schools RD, why not EA?
Thanks.
<p>tm, Different schools have different rules. It's very confusing and if you have any doubt it's best to ask the individual school what's allowed.</p>
<p>Usually for EA you can apply to other schools simultaneously. Since EA isn't binding, you don't need to withdraw your other applications if you get an EA acceptance.</p>
<p>The expection is SCEA --Single choice EA -- at Yale, Harvard and Stanford. If you apply SCEA you can't apply early to any other school. You can however apply RD and you don't need to withdraw your applications if you get accepted SCEA.</p>
<p>If your early choice is ED, you MAY be able to apply EA as well (but not SCEA). HOWEVER, if you are accepted to your ED school you must withdraw all other applications, both EA and RD.</p>
<p>I'd also caution you to be aware of the financial ramifications of applying ED. If you are accepted ED you will not be able to compare and negotiate other financial packages. This is not necessarily a bad situation, but does include a degree of financial risk.</p>
<p>Clear as mud, right? :)</p>
<p>I agree totally with Momrath about the confusion of EA/ED and the financial aid issue.</p>
<p>Each college has its own rules about whether you can apply anywhere early if you apply to them early. Whatever you do, you have to make sure that you don't violate any of the separate rules at any of the colleges that you are applying to.</p>
<p>I don't really understand the whole down point of ED. ED is the binding agreement that you won't apply to another college/university early, right? Can you still get scholarships, grants, and monies?</p>
<p>If no to ED, can you receive scholarships, grants, and monies by applying EA?</p>
<p>ED is binding provided the college provides you with enough financial assistance so that you can attend (they decide how much that is). EA is non-binding. Each college has very complicated rules concerning applying early to multiple schools. You have to make sure that you are in compliance with all of the schools.</p>
<p>For ED, the issue comes down to the makeup of the financial aid package that the ED college offers you. Basically you are giving up the option of comparing financial aid packages from different schools by applying ED. </p>
<p>The colleges try to meet your financial need. Each college has a COA (Cost of Attendance) that includes tuition, room and board, books, and misc expenses. Your parents fill out the FAFSA which is a federal form listing their income, their savings, your income and your savings. Some colleges may also require that the College Board PROFILE also be filled out. Based upon this information, your EFC (Estimated Family Contribution) is calculated. This is the amount that the college expects you or your family to pay towards your education. Your NEED is the COA minus the EFC.</p>
<p>The college's financial aid office then tries to put together a package to satisfy your NEED using grants, loans and part-time work. Grants are free money. Loans have to be paid back.</p>
<p>The reason that ED is a bad idea if you are also going to apply for financial aid is the grant/loan ratio. One college may give you a $20K grant and a $5K loan. Another college may give you a $10K grant and a $15K loan. Both of the packages add up to $25K, but the first college's offer is better since you only have to pay back $5K per year while you would have to pay back $15K per year at the second college. By applying ED, you are giving up the option of comparing packages. You have to take whatever they give you. Financial aid packages vary widely between colleges, and between different students at the same college. </p>
<p>A typical COA at a private school is $40K per year. I should warn you that the above may sound better than it is. The problem is that the EFC can be very high for some people who consider themselves middle class. A family with a combined income of $70K per year (both parents) might have an EFC of about $15K which is a whole lot to pay each year. However, as the combined income goes towards $100K per year and exceeds it, the EFC gets very high.</p>
<p>Thanks so much!</p>
<p>
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However, as the combined income goes towards $100K per year and exceeds it, the EFC gets very high.
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</p>
<p>Why is that? My family has a combined income of around 100K, but that doesn't really reflect my family's ability to pay. We are a family of six, and while 100k may sound like a lot you'd be surprised how fast it goes when you've got three kids in braces, two car payments, a grandparent in the nursing home, a mortgage, etc. Do colleges take these personal circumstances into consideration when deciding on aid packages?</p>
<p>The EFC is based on parents income, parents savings, student's income and student's savings. The parent's savings are calculated at about 5-6%, and the student's savings are calculated at about 30-35%. (I forget the exact numbers.) If the parents are divorced, both are expected to contribute. The equity of the family home doesn't count as savings. Any cars do not count as savings. There is a cost of living factor depending on what state you live in. The number of children is considered, but I don't think it has much effect unless multiple children are in college at the same time. If you are paying for a nursing home, that might affect it, but I'm not sure.</p>
<p>I would say that the system is designed to have the rich pay full price while discounting tuition for the poor. The people who get hurt the most are the middle class in the $100K range. They are too high to get a lot of FA and too low to not need FA. I feel strongly that parents should get some idea of their FA position before having kids apply. It is always possible for kids to get merit aid, but most aid is need based. There are free EFC estimators at different websites. Collegeboard.com has one and I think that CC does too.</p>
<p>The amount of the EFC can be a real shocker. It is difficult to hear that your EFC is $10-20K per year. I suppose people either go into savings, take loans, or use home equity.</p>
<p>There are two methods used to calculate the EFC: the FAFSA which is a federal govt form, and the Institutional Method which is done by the College Board. Everyone requests the FAFSA, and some colleges request both. Ultimately, it is up to the FA officer at the college. They need to be filed as soon as possible after January 1st.</p>
<p>There is a separate forum on the main page for Financial Aid questions, and there are books you can buy.</p>