<p>"Full rides at schools are great and all, but it's worth jack if a student has no interest in the school because of the character, size, or location. But it might be different for someone else, money does make the world go round as they say."</p>
<p>I'd love to have Mustang car, but I can't afford one so I drive around my 14-year-old very ordinary Mercury, and I'm glad to have wheels.</p>
<p>My S's college options are limited by our income. That's life. I still expect that he'll be able to find a college where he'll be fulfilled and will be happy. </p>
<p>My college options were limited by what my parents were willing to pay for. As a result, I didn't bother applying to a college that I would have loved attending. Still, I had a good college experience.</p>
<p>This is the way life goes. We can't always get what we want, but we can make the choice to love what we can get.</p>
<p>As for what Cornel's aid packages are like, try using the search function here on College Confidential, and try asking some Cornell students, whom you might be able to find on LiveJournal.com's boards.</p>
<p>You also could directly ask financial aid officers there.</p>
<p>That's great way to look at life. But comparing my college educational experience the same way as looking at a Mustang is a bit extreme, yes? </p>
<p>It seems the prevalent attitude is that ED is for the priviledged. The ones with the money can apply ED anywhere, while the ones who are less fortunate when it comes to finances need to go to state schools and cheaper schools. Now I found this attitude to be true.</p>
<p>Whether or not you like it, that's just how things are. Even if I had a clear #1 school, I couldn't apply ED because I know there is no way I'll get much aid anyways, but having to pay it would be impossible for my family. Instead of complaining about the advantages ED gives to the rich, why not use that extra time to give yourself an advantage in the RD round? Why not minimize that difference.</p>
<p>Well, ED is for the privileged just like Mercedes, mansions, ski vacations in the Alps, and (in general) exclusive, expensive prep schools are for the privileged. For that matter, top public secondary and elementary schools also are for the privileged since the quality of public schools is based on property taxes. The higher the value of homes, the more money schools get through property taxes.</p>
<p>Meanwhile, though, the less fortunate do not definitely have to go to state schools and cheaper schools. If they have the stats to get into top ranked colleges -- the ones that are likely to guarantee to meet 100% of financial need -- low income people can go to some top colleges. In fact, at the top colleges that guarantee to meet 100% of financial need, low income students with the stats and curriculum qualifying for admission are highly desired.</p>
<p>Meanwhile, you can bemoan the fact that in your case, it's probably not wise to apply to your first choice college ED. On the other hand, you could look for some other alternatives. Cornell is not likely the only place where you could be happy and get an excellent education. There also is no guarantee that you'd get in ED either. </p>
<p>We really are fortunate in the US that we have so many colleges to choose from. It's a rare individual in the US who could only get a good education and have a fulfilling experience at one college. Most people have many potentially good options. Most people in the US also have financially-based restrictions on where they can obtain their college educations.</p>
<p>Northstarmom, that is a very good point. I didn't think about that. </p>
<p>"Instead of complaining about the advantages ED gives to the rich, why not use that extra time to give yourself an advantage in the RD round? Why not minimize that difference."</p>
<p>I'm applying ED, regardless. Call me stupid, the decision unwise, I don't care. I guess I have to trust the school and the financial aid it will provide for me. lkf725 noted loans and expressing interest, and I am willing to use loans to attend the school. I have contacted my First Choice many times. I have exchanged emails with the admissions rep in my area, the dean's assistant, applied for a travel grant to the multicultural overnight weekend program because I am a low-income Asian first generational student, and will see the rep when she visits our school next week. I have worked extremely hard in making a impressive resume, a strong essay, and grateful to have teachers who have cared about me and had an influence in my life write recommendations. My grades are solid, I go to a school where the college of choice has favored tremendously in the past and goes out of the way to generate interest, and provide a strong passion in my intended major. </p>
<p>EDIT: </p>
<p>Decided to take out this little bit because it was defensive and confrontational, and I apologize for that. This whole issue is a bit of a sensitive subject for me. NorthstarMom did a much better job of telling me to shut up about the issue so I was a little upset at Celebrian.</p>
<p>But thank you all for your insight and responses. Much appreciated.</p>
<p>Princeton's philosophy is based on the concept of no loans. However this does not mean that you will not graduate debt free. You may need to take out loans:</p>
<p>to meet your EFC
to become a member of one of the eating clubs (not covered in your FA)
Should you need a computer or some other miscellaneous item.</p>
<p>You really are going to have to look at your situation since the school determines your EFC. Even being low income the school may assign you an EFC that you cannot afford to pay and you may have no means of borrowing the money still leaving you between a rock and a hard place.</p>
<ol>
<li><p>A greater percentage of early decision applicants are accepted, so you increase your chances of acceptance by applying ED.</p></li>
<li><p>Many ED applicants are financially secure, so the school increases its chances of decreasing the dollar amount of 100% need obligations.</p></li>
</ol>
<p>You don't necessarily increase your chance by applying ED/EA. The early decision pool is very competitive anyways. If you stats are mediocre, you would be at the bottom of the ED/EA pool....</p>
<p>No my stats are decent and since its my top choice, why not? Ed shows commitment. My sister, who is independent, promised me to help me if my fam needs some extra money. Princeton is as generous as can be, so why not?</p>
<p>For Penn ED, it says that you are bound to go to Penn if you are accepted AND they meet full need. I'm assuming that goes for other colleges' ED...if they don't provide substantial aid, you are allowed to break the ED contract.</p>
<p>
[quote]
I'm assuming that goes for other colleges' ED...if they don't provide substantial aid, you are allowed to break the ED contract.
[/quote]
</p>
<p>The problem with this philosophy (or maybe you have not read this entire thread) is that the *school not you * determines what is considered substantial aid. Getting out of ED is not as easy as you think.</p>
<p>While the school can not make to attend against your will, You could be left with very few options because :</p>
<p>you are required to withdraw all of your applications</p>
<p>ED lists are shared amongst other schools (and colleges are reluctant to take students who have defaulted on their commitment)</p>
<p>Your GC is suppose to make sure you withdraw apps (so s/he should not be sending out GC recs. transcripts, etc on your behalf then their credibility comes into question)</p>
<p>"
The problem with this philosophy (or maybe you have not read this entire thread) is that the school not you determines what is considered substantial aid. Getting out of ED is not as easy as you think.</p>
<p>While the school can not make to attend against your will, You could be left with very few options because :</p>
<p>you are required to withdraw all of your applications</p>
<p>ED lists are shared amongst other schools (and colleges are reluctant to take students who have defaulted on their commitment)</p>
<p>Your GC is suppose to make sure you withdraw apps (so s/he should not be sending out GC recs. transcripts, etc on your behalf then their credibility comes into question)</p>
<p>You are pretty much relegated to state U"</p>
<p>What about schools like Princeton that offer no loans or almost no loans?</p>
<p>because what they say you can afford may be a lot higher than what you say you can afford. I think that's what sybbie is saying. If you say I can pay $5000 and they say you can pay $15,000 you're going to have to take out loans even at princeton to get yourself up the EFC.</p>
<p>Not only is it true that the school determines what you can afford, the schools often go by the results of the FAFSA, which was very unfair for us. I guess the colleges can "override" the FAFSA bottom line, but I think if the federal methodology gives you a number that you cannot really afford, then you probably are screwed. Also, when colleges fill in my "need" with loans rather than grants or scholarships, I don't really consider that to be financial aid. If I am forced to take loans and go into debt, I don't feel like I am being offered any real assistance. I can go into debt entirely on my own, thank you very much!</p>
<p>There have been many articles and books written on this topic. The admissions offices would like us to believe that the ED/EA pool is much stronger but that is not true. One of the books that has done a statistical analysis, I can't remember which, states that applying early is equivalent to adding roughly 100-150 points to your SAT score. Additionally, the acceptance rate within the ED/SCEA/EA pool is significantly higher than for the RD pool.</p>
<p>If you get in and can't pay 40K, then talk to the financial aid department. Tell them that you can't attend the school if they don't offer you financial assistance.</p>