<p>I'm applying ED in hopes of getting as much financial aid as possible. However even with tons of aid, it's still going to be a stretch. If I get in but it turns out to be too expensive, is there a way out of the binding contract? </p>
<p>(It would be heartbreaking to get in and have to turn it down! It's just such an expensive school.)</p>
<p>I believe every school tells you NOT to apply ED if you are really set on maxing out Fin Aid. Because if they accept you you are bound by the acceptance. Still with all that said, in CMU's Fin Aid Brochure which I received last Thursday they state "that if applying ED they promise to meet all your demonstrated financial need". Applying any other way and they cannot promise to meet your entire financial need. Lastly, if after getting accepted ED and reviewing the Fin aid package, you feel that you canot accept admission, they will probably let you out. After all, they cannot force you to attend.</p>
<p>Keep in mind that when you submit the CSS Profile and the institutional financial aid forms, it is the school itself that determines what your expected contribution and financial need is.</p>
<p>Do NOT apply ED if cost is a major factor. CMU is known for matching scholorship offers given by other "comparable" schools. HOWEVER, if you apply ED, you are expected to cancel other applications once you get accepted by CMU. Thus, there is little scholarship matching, if any.</p>
<p>ED says that you HAVE the $$ to attend and very little if any $$ will be given out at any school.</p>
<p>I also read that CMU will meet the "entire need" for sure if you apply Early Decision. However, I have no idea what my "entire need" will turn out to be. Unfortunately, my family looks rich on paper. :/ </p>
<p>Would it be better to take my chances and apply early in hopes of getting the most money possible, or wait until regular decision so I will have a chance to compare? </p>
<p>I'm worried my stats might not be good enough for regular decision. :)</p>
<p>What if you get accepted ED and can't afford it?</p>
<p>That is the question. Obviously, I will try every possible option to make up the difference, but what if it simply doesn't work?</p>
<p>I dunno. We were too afraid to let it happen since ED is a contract. I guess they can't make you attend, but reneging very probably will affect your other options.</p>