<p>Aplogize if this has been answered before (went through 10 pages of posts and did not see it) ... My daughter is dead set on NYU and wants to apply ED. I fully support her choice, and I understand it should help her chances of admission if she goes ED. The problem is, I am concerned about financial aid. Not in terms of comparing between offers from other schools, but in terms of her getting enough aid to even afford to go there. I know ED is supposed to be binding, but what I am not sure of are what are the actual consequences of reneging if she gets accepted but cannot afford to go there? Her HS GC says it is no big deal, that nobody can force her to go there. But others have told me it could stop her from attending other schools. Can we assume that she will get enough aid if she is accepted? Not as concerned about the ratio of grant vs. loan as the overall amount. We are willing to accept a pretty high amount of debt as the cost of investing in the education. But if she can't even get enough loans to pay the bill, she can't go there regardless. What are the real consequences if she gets accepted ED and can't afford the school?</p>