<p>What happens if someone applies to a school ED and isn't offered a large enough financial aid package to pay for tuition, etc.? Do they still have to attend or can they explain?</p>
<p>You can contact the school and ask to be released from the ED agreement. If they haven’t met your need as they define your need, you will be released.</p>
<p>For common app schools, you don’t need to explain why it’s not enough; you just say thanks, but no thanks. Or you can appeal for more, but don’t expect it. </p>
<p>From <a href=“https://www.commonapp.org/CommonApp/DownloadForms.aspx[/url]”>https://www.commonapp.org/CommonApp/DownloadForms.aspx</a>
It is your decision if you must decline the offer, not the school’s.</p>
<p>But truthfully…when you apply ED, you are applying with the understanding that IF you are accepted, you WILL attend. When you apply, you KNOW the costs. If financial aid is a significant consideration, it may be better for you to NOT apply ED so that you can compare multiple financial aid offers.</p>
<p>“When you apply, you KNOW the costs.”</p>
<p>Here I disagree. At profile and gapping schools (most of the privates) the amount of financial aid is unpredictable, such that you DON’T know the final cost when you apply.</p>
<p>But I completely agree that ED should not be used if you want to compare financial aid packages. ED should be used only if you have one dream school far above any others and that you’ll do your best to find a way to attend if the financial aid is anywhere close to sufficient considering your family’s circumstances.</p>
<p>No you don’t know the EXACT final costs…but there are institutional method finaid calculators out there that will give you a ball park. If you are unsure of finances…don’t apply ED. Really that is all I really want to emphasize. Better to have the option to compare financial aid offers.</p>
<p>I’ve known folks who have applied ED and needed financial aid and all worked out well. The problem is when it does not work out well, it can be a big pain in the neck. Your other apps can be adversely affected, you have no basis for comparison, and you may have to go through a lot of unpleasantness to get out of ED.</p>
<p>I’m curious if anyone will chime in with more information. My #1 has a really good financial aid program, but nothing is guaranteed. On the other hand, it has over a 60% acceptance rate for ED and only a 12% acceptance rate for RD.</p>
<p>I mean, sorry. Anyone who had been through this experience.</p>
<p>applicannot, it depends entirely on the school, how explicit it is regarding its finanicial aid policies – AND how this intersects with your family’s financial situation.</p>
<p>When you say your #1 school has a good FA program, “but nothing is guaranteed”, what do you mean by that? Is it a school that meets 100% of what they determine is your financial need? Do they meet that need with no loans, or with a low cap on loans? It would be easier to respond to your question if you told us about the specifics of the school’s FA policies, and something about your family circumstances.</p>
<p>There are situations where, in my opinion, a student with financial need can reasonably apply ED, but much more often it isn’t a wise thing to do.</p>
<p>“Your other apps can be adversely affected … and you may have to go through a lot of unpleasantness to get out of ED.”</p>
<p>How? What is the mechanism? Has anyone ever heard of a single case of this? The commonapp.org instructions say it’s not so.</p>
<p>"I mean, sorry. Anyone who had been through this experience. "</p>
<p>D just went through ED at Rice. Why? D wanted to leave the state for U - OOS school costs are high so privates were attractive. D chose Rice which has 100% need & small loan ($2.5k/yr) guarantee. It worked out as expected; D was admitted with FA ~equal to federal EFC (minus 2.5k loans and minimal WS). She was not awarded any merit money (but at this kind of school merit money would only impact loans and ws. Any additional funds would only reduce need-based aid).</p>
<p>This is just one story - but if you need funds, it is essential to choose a 100%-need and a limited or no-loan school if you decide to go this way. It goes without saying that you must be certain about the school D or S wants to attend.</p>
<p>“it is essential to choose a 100%-need and a limited or no-loan school if you decide to go this way”</p>
<p>Unfortunately for those who own their own businesses or have any assets at all, schools totally re-define their EFC and thus the FA packages and there is no way to know what they are going to do. The economy has hurt our business very badly and yet our FA package offers varied by thousands between schools. </p>
<p>Ironically the one school that doesn’t boast about FA help offered us the best package and the one that has so called “loan caps” and “loan replacement grants” offered us the least. $10,000 in difference. Go figure? </p>
<p>Best to have finacial safety schools as well as academic safety schools.</p>
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<p>My family’s income is about $23,000 for three people. That gives me an EFC of $0-$1000 (depending on my income as the student this year) and a CSS PROFILE result of $0-$1000 (no assets, home equity, etc.). The school that I want to apply to is not a 100% need school, but it does have generous grants, need-conscious merit aid, and financial aid (I’m willing to take up to $40,000 in loans, hopefully MUCH less, and I can contribute exactly $0 out of pocket). The school I’m looking at is George Washington. It has over a 60% acceptance rate ED but something more like 12% RD. I have a moderately strong application, but that RD acceptance rate is REALLY low. It probably isn’t a smart thing to do, but I so want to. Augh.</p>
<p>applicannot^^ Apply to GW early decision, then send in the rest of your applications RD. Then when you get all the FA packages next spring, you can choose which you can afford. Hopefully you will have been accepted into GW and they will offer you enough FA that you can afford it. But if they don’t, you’ll have back up schools. </p>
<p>The only problem with doing this is that if you plan to apply to some schools that offer scholarships but only for those using non-binding early action. Then there can be a problem since most schools won’t let you apply ED to them and EA elsewhere. We ran into that issue this year.</p>
<p>“The school I’m looking at is George Washington.”</p>
<p>Based solely on your choice of words, it feels like GW is not appropriate for ED for you. When FA is an issue, ED should be used only at your one dream school above all others, where you will attend if there is any way at all to make it happen.</p>
<p>re:GW ED. I know someone who is having a terrible time ED II not having received the finaid pkg yet. Parents are self employed with assests but low EFC. The ED contract required ALL apps to be withdrawn. They have made numberous attempts for an answer to finaid but still have no response. Only apply ED if you can attend without finaid, especially if parents are self employed. This is also stated on GW message board by admissions. Their ED contract is online and states no reference to getting out if you can’t afford it. They are not 100% need met school although there are students who have received this.</p>
<p>I would not apply ED to any school that does not meet 100% of need. ED schools are within their rights to limit where you go to a lower cost school, they often won’t let you just see if you can get better offers from equally expensive schools.</p>
<p>By applying ED you are saying you have looked at the financial realities of doing so. A good counselor will go over the financials with you before she signs off. It just makes no sense for anyone low income to apply ED to any school that does not meet need.</p>
<p>“Only apply ED if you can attend without finaid”</p>
<p>This makes no sense at all. From <a href=“http://gwired.gwu.edu/finaid-n/HowtoApply/EarlyDecisionI:[/url][quote]Financial”>http://gwired.gwu.edu/finaid-n/HowtoApply/EarlyDecisionI:
</p>
<p>GWU uses the common app, which says:
“The ED contract required ALL apps to be withdrawn.”</p>
<p>Yes, but after the ED FA offer has been accepted by the student.</p>
<p>Thanks for the advice, everyone.</p>