<p>I am applying ED to Penn. If I am accepted, Can I wait to see my financial Aid package and decide whether to accept or not. If Penn doen't meet my financial requirements then is there a way I can break the contract?</p>
<p>Thanks</p>
<p>Yes. You can’t be required to accept admission to Penn before you see your financial aid offer, and if you don’t like the financial aid offer you can decline admission, even if you have been accepted ED, as long as you make that decision fairly quickly. (I think they usually give you a few weeks.) The downside, of course, is that you can’t see anyone else’s offers before you turn down Penn, and once you turn down the ED offer from Penn you can’t go back to them and say, “I’d like to come after all.” So, as a practical matter, the financial aid offer has to be really bad for any applicant (and his parents) to give up any chance at Penn without another really great offer in hand.</p>
<p>People talk about doing that all the time. But when push comes to shove they don’t.</p>
<p>If I am accepted , will Penn send me financial aid package at the same time as the ED decisions?</p>
<p>Yes, I believe so. If not in the same e-mail, then within a couple of days at most. But I think most places, including Penn, do it simultaneously or as close to that as possible.</p>
<p>Thank you for the info. I am planning to apply in a couple of days.</p>