<p>I know that there is not supposed to be a difference for a fin aid package based on when you apply, but does anyone this to be true? The reason I ask is that my S is being encouraged to apply ED by a coach who implied that the fin aid is better that way (this was at a top 30 LAC).</p>
<p>Does the college in question meet the full need of ALL accepted students AND do you qualify for need based aid? If so, there shouldn’t be any difference. Run the net price calculator on the school website for a guestimate on your aid amount.</p>
<p>For those schools that guarantee to meet 100% of need, it does not make any difference. You get the same package either way. There are some schools that will meet 100% of need for ED applicants but not for RD applicants. That does not mean that any given RD applicant would not get the same package that he would have gotten had he applied ED, but the risk is there. Those schools do not offer EVERYONE 100% of need, just the kids they want the most and those include the students they accept ED. It would make no sense not to meet full need for ED kids because the whole purpose of accepting such kids is to lock them into an acceptance. If such a school is not sure it wants to meet full need to an ED applicant, it will simply roll the app over to RD and make reconsideration at that time.</p>
<p>The problem with ED when you are in this situation is that most such schools define their own need. They do not use the EFC from FAFSA but have their own forumula builti into PROFILE, so they define need. There are students who have applied to a number of schools, all supposed to meet full need, all with reputations as such, and the packages have been as much as $10K apart in value. Some schools count all of your home equity, some don’t. Some have a required student contribution in summer earnings, some don’t. Some integrate PELL and Stafford monies into their formula , some don’t. Some will allow full use of outside scholarships, give out only grants, and the list goes on. When you apply ED you cannot compare so you have absolutely no idea what other schools might offer in the way of financial aid. You are given and figure and it 's pretty much take it or leave it. </p>
<p>It’s a lot of pressure to take it even if it isn’t quite what you can afford when you have your kid on his knees praying that it’s a go, and you have nothing else on the table.</p>