<p>Let's say you apply ED to a private school. They accept you and a week later, you get your financial package. IF I know my EFC will not cover the cost, and the school doesn't offer the difference in FA, is that when you can deny their offer? Is that when the "financials" are not acceptable?</p>
<p>If you know you have calculated your EFC correctly per the college’s IM, and the school meets full need, you should have no problem.</p>
<p>If the school does not meet 100% of need, you should not apply ED.</p>
<p>The simple truth is anyone can say anything and back out. The real question is what are the consequences. Depending on the school there can be few or there can major ones. The can notify peer schools and force you into a state school. The can hold the high school responsible and stop accepting kids from it.</p>
<p>In my mind the bottom line is your kid and the family taking the contract seriously. The lack of aid should not be an issue if you’ve done proper diligence.</p>
<p>Also keep in mind that for all schools (even those that meet 100% of need), unless they have a policy that states “no loans”, you may receive a larger part of your FA package in loans than you are willing to take.</p>
<p>Yeah, the school could possibly meet your needs with loans ( so be careful where you apply ED).</p>
<p>Even if the school does claim to meet “100% of need,” your definition of 100 percent and their’s may be different.</p>