<p>Is it? What are its pros and cons?</p>
<p>Pros:
Early decision--if accepted, you don't have the stress for the rest of the year.
Higher acceptance rate.</p>
<p>Cons:
Usually weaker financial aid packages.
Binding--if you change your mind, you can't do anything about it.</p>
<p>If you really want to go to a certain school, it's an excellent idea. It increases your chances and shows your interest in the school. I'd caution applying ED if you need financial aid, but otherwise, there aren't many cons if you really love the school.</p>
<p>The prices aren't going to change from when you apply ED or not...so I'd advise apply ED.</p>
<p>The prices might not change, but the distribution between grants/loans may.</p>
<p>It's great to be done early and relax while the kids are freaking out in April.</p>