<p>I've read that Early Decision is legally binding unless the financial aid given by the university isn't considered "good enough" by the applicant's family. Is this true? And at what point is the family allowed to say what is and isn't "good enough" for their expenses?</p>
<p>Whenever the family feels like it. Truly. What the institution thinks you can afford, and what your family believes you can afford may be very different things.</p>
<p>Just let the college/university know ASAP that the offer is not affordable, and ask to be released so that you can get on with your life.</p>
<p>Oh, and it isn’t legally binding. It is more of a moral commitment. No one can take you to court for saying “thanks, but no thanks”.</p>
<p>I rather doubt anyone ever indicated it ED was “legally” binding; however, it is certainly ethically obligatory (with a few “common sense” releasable conditions possible). EVERY potential ED applicant should painstakingly complete the NPC (net price calculator) for his ED institution. If the NPC is comprehensively and accurately completed AND the university’s final FA offer does not equal the NPC’s estimate, that would likely be a releasable situation. On the other hand, if the school meets or exceeds the NPC’s estimate, the student would be expected to honor his ED commitment and to attend. Were he not to do so, both the individual and his secondary school could be penalized. </p>
<p>@KanjiRune If financial aid is a major decision factor, then a student should not apply ED in the first place. There are consequences to backing out of ED, read on…</p>
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