<p>I have heard this a few times and I'm sure it's been asked before, but is it true that if you apply early decision, your financial aid goes down because they know you're committed? I'd love to ally ed somewhere but I need the aid. Could somebody clear this up for me?</p>
<p>Love to apply**</p>
<p>It depends on the school. If you are applying ED to a school that meets full need (by their calculations…not yours) then your aid would be the same whether regular decision or early decision. </p>
<p>HOWEVER if you are applying to a school that does NOT meet full need, there is no way to know if your package would be different…might be…might not be.</p>
<p>If a school says it meets 100% of demonstrated need, then it will not reduce your financial aid. They probably will if they do not have that policy and you are accepted ED. If you are accepted EA, however, you can ask for more money, since EA is non-binding.</p>
<p>My theory (that’s all it is!) is that when a school accepts you ED giving you financial aid, they want you so badly (for your academic record) that they’re willing to take a financial “loss” on you, so they’ll try really hard to make it work. Make sense?</p>
<p>I’m curious about this too. I want to apply ED but idk what money I’ll get.</p>
<p>Many schools have financial aid calculators right on their websites. OR there are other online financial aid calculators you can use. If the school is a PROFILE school, use the institutional methodology. BUT all this will give you is an ESTIMATE of your family contribution…NOT a list of the amount or types of aid you will receive.</p>
<p>Re: what vonlost said…if you apply to a school early…it is with the understanding that you will accept the offer of admission if you are accepted. You CAN get out of the ED contract IF the finances don’t work out. BUT remember…this ED school has accepted you with the understanding that you will enroll. I personally can’t think of any reason they would feel compelled to adjust a financial aid award to an ED student. Simply put, they expect you to come…or back out if the financial aid is not going to work for you.</p>