I plan on applying Early Decision to a fairly expensive private college. I know that I absolutely cannot pay the sticker price to attend that school, but the financial aid calculator they provided predicts that they will not give me any money. I know that I’m allowed to withdraw from an ED agreement for financial reasons, but I don’t know whether the metric that allows me to withdraw is the school’s estimation of my need or my estimation of my need. Will the school allow me to withdraw if our estimates of my financial need conflict?
Why would you use ED on a school you know you can’t afford?
As far as I know schools don’t require proof you can’t afford to attend if you ask to be released from ED. However, you, your parents and your GC all sign a form acknowledging that you are committed to attending if accepted and that you’ll withdraw all other applications.
Don’t waste your ED on a school you can’t afford.
Agree with the above comments. There is no point wasting ED on an unaffordable school.
You want to apply ED to a school you already know you cannot afford and that will not give you the financial aid you need? What’s the point?
I agree with others. Some kids might do it for bragging rights, IF they get in. But your energies would be better spent on realistic opportunities.
Frankly, down the road, you might have a moment of glee when telling someone you got into $$$ University. But it’s not who you’ll be, won’t get you a job, may leave them scratching their heads. It’s high school thinking.
I assume you have discussed this with your parents? You may want to check with someone who can assess your ability to pay. But, yes, if you know definitely you or your family cannot or does not want to pay, then why apply ED? Maybe look for a selective EA.