<p>Now I've asked this on these boards before and should probably expect the same answer, but after reading this on Collegeboard, I can't help but think about it. I did want to apply to Cornell ED. It's my top choice and I was hoping ED would compensate for my SAT scores which are ~25th percentile of those accepted. Anyways, on these boards it was stated by people that if financial aid is needed, you really shouldn't apply ED. The two main reasons are 1)They decide what you can pay 2) You can't negotiate. However, Collegeboard says negotiating is really a myth. <a href="http://www.collegeboard.com/student/pay/add-it-up/396.html%5B/url%5D">http://www.collegeboard.com/student/pay/add-it-up/396.html</a> So now I'm thinking early decision again. That still doesn't address issue one, but still, don't all colleges decide what you can pay anyways? My parents haven't yet talked to their financial advisor and VERY rough estimates are that they make 60k per year and they say they probably only have enough to pay for one year's tuition (I'm assuming they meant Cornell, but they were very evasive about telling me how much money they have).</p>
<p>Mikey, negotiating financial aid is a myth for some schools but not others. Because there is an absence of strict practices, much less policies, at many schools, financial aid offices will often treat each student on a "case by case" basis. </p>
<p>Also, because there is no consistency from one school to the next regarding the applied methods for determining a student's "financial need" (e.g., EFC), you cannot apply any generalized thinking to situations that are clearly specific to each student. There can be a tremendous difference between what one school offers vs. another even if they both use the combined IM (Institutional Method, usually employing CSS PROFILE form) and the FM (Federal Methodology, based on FAFSA form). Every year, there are many students who are shocked to find the difference can be $10,000/yr. or more in financial aid offered between two schools. It is for this reason, that many will advise you not to apply ED if financial aid is a consideration.</p>
<p>Even "need blind" admissions programs (where financial need is not considered as a factor for admission) that commit to meeting 100% of demonstrated need can vary greatly. Ultimately, the financial packages offered may be inadequate, given the variances in the different financial components, e.g., need-based grants, loans (subsidized or not), and work-study opportunities. </p>
<p>It sounds as if you need to sit down with your parents, before you commit to any ED plan, and have a candid discussion about how your education can be funded. This discussion will have to take place at some point between now and the time you complete your CSS PROFILE and FAFSA forms, so better sooner than later. Its a mistake to enter into an ED plan with its binding commitment without knowing that you and your family have the wherewithal to follow through on the promise. As well, contact Cornells Office of Financial Aid and discuss your situation with a financial aid counselor. Do this AFTER youve had that conversation with your parents, as Cornell cannot help you without your sharing some information with them.</p>