I don’t know if its the same for every college, but I was reading that if you apply early decision to a college, such as Syracuse or something, that if you are admitted to your first choice program, then you have to attend and revoke or simply deny all other offers.
My question is say I applied early decision, and got in, then they sent me a letter saying I got a certain amount of financial aid, way below what I was expecting and needed, what happens then? Would I have to attend and pay what they were asking, or is there an agreement on the amount of money before hand?
Every school has their own rules, but generally if the financial aid award is much lower than estimated using their net price calculator, the Early Decision (ED) commitment may be broken.
For Syracuse in particular: If you are applying for financial aid, you will receive an early estimated financial aid award package. While Early Decision is binding, we understand that financial considerations may affect a student’s ability to enroll. https://www.syracuse.edu/admissions/undergraduate/apply/enrollment-options/
So do your homework by using the net price calculator before applying ED to avoid wasting time and money applying somewhere that will likely be unaffordable.