I’ve been considering (but am in no way committed to) applying ED to Johns Hopkins. However, I’ve heard that colleges typically don’t give very good financial aid to those accepted through ED, and my family would likely have a very hard time paying for an elite college like JHU without as much aid as possible.
Is it true that Early Decision would reduce financial aid, and if so, should I might as well just apply regularly?
My family is pretty dirt poor. Applied ED and accepted. My parents only have to contribute around 3k after taking out $3500 loan through FSA and $2500 through work study. I don’t think it matters too much if you are ED or Regular, they will still meet your demonstrated needs. OFC, if you are like my friend who has a lot of assets like real estates, stocks, etc then you are screwed.
Run the Net Price Calculator. If you cannot afford the estimated price, ED is not for you.
The biggest risk with ED is not with your need-based aid, but with merit aid. There are a number of lower tier schools that will give big merit awards to kids who have the credentials to get into Hopkins. If you apply ED, you never get that chance to compare offers from multiple schools. If your parents are hoping to pay less than their EFC via merit scholarships, ED is not for you.
The admissions office told me on the phone that you will hear from them whether you will receive any merit aid at the same time you hear about admission. That includes if you apply ED. So ED merit aid is possible. But I wonder if anyone can say that they did receive merit aid when they applied ED? I agree with @LuemAintMe that JH will give good FA to those with demonstrated need no matter whether they apply ED or EA. If you want to hear about FA upon receiving your ED decision, then you should file FAFSA as soon as you can.
I think schools that meet need are pretty good at giving you the same FA package no matter when you apply. But packages differ among colleges. So JHU’s package might not be as good as another school’s would be, but you can’t compare if you apply ED.
Does JHU look affordable when you run the net price calculator on the college web site? Note that if you have divorced parents, or if your parents have a small business or rental property, the NPC likely will show you getting more aid than you really would get.
If the NPC looks affordable and JHU is your first choice, apply ED. But keep working on all you other apps, and don’t miss those deadlines. If you get accepted ED, don’t accept the offer and withdraw your other apps until you have a FA package you can live with. Be mentally prepared to walk away if that doesn’t happen. And be sure you have a safety on your RD list you are willing to attend and know you can afford.