ED and Financial Aid

Paying for College
1

<p>Does anyone know what affect applying ED has on the kind of FA package offered? Is it likely to be smaller or larger? (Back in my day, in ancient Rome, it would be smaller, but...)</p>

<p>Thanks!</p>

<p>Laxmom07</p>

2

<p>I don't think it will be smaller. At least that's what people have been saying on this board. The main downside of ED is that you are not going to be able to compare financial aids from different schools because you only have one offer (if you get accepted ED). Consequently, negotiating your aid will probably be very difficult because there is no comparison at all.</p>

3

<p>I doubt that the schools are out to offer ED admitted students a raw deal. They thought enough of you to accept you early.</p>

<p>But goldtx is right, the one downside is you don't have other financial aid packages to compare it to.</p>

<p>There is a good piece on financial aid packages at:
<a href="http://www.collegetoolkit.com/Articles/resAward.aspx%5B/url%5D"&gt;http://www.collegetoolkit.com/Articles/resAward.aspx&lt;/a&gt;&lt;/p>

4

<p>Another downside is that at least 31 well-known schools (list at <a href="http://www.cofhe.org%5B/url%5D"&gt;www.cofhe.org&lt;/a&gt;) consider their ED aid packages to be binding, requiring attendance even if the aid given (merit or need) is too small (in the family's opinion). One CC poster said these schools will blackball a student with the other 30 schools if the package is rejected, with possible exceptions. </p>

<p>Some other schools consider their ED aid packages to be offers, rejectable without consequence if considered insufficient. Knowing a given school's ED aid policy ahead of time might be useful.</p>

5

<p>Thanks... boy are we caught between a rock and a hard place! She'll lose her spot on the team if she doesn't apply ED, but if she does, she's stuck with the money... arrgggg</p>

6

<p>laxmom- sounds like your daughter is a recruit and will lose the benefit of the athletic tip unless she applies ED.<br>
Perhaps the school financial aid office would provide an estimated package based on your income etc?</p>

7

<p>Yes, I'll ask! Thanks!</p>