Financial aid and ED - schools allowing release if need not met

<p>*However, what is happening more at the high school level is that high schools are using the only recourse they have left regarding ED admissions; not going forward with the RD process for students who have been admitted ED unless they show proof that they have been released from the ED agreement and informing schools that the student has been accepted elsewhere ED. </p>

<p>Keep in mind that the school also signs off that they explain the ED process and both the school and the students/parents understand the process.*</p>

<p>You’re talking about apps that are submitted AFTER ED results. Students can apply to schools BEFORE ED results…think of all the kids who’ve applied to CSUs and UCs in Nov or kids who’ve applied to EA, Rolling Admissions, or “big scholarship schools” before Nov/Dec deadlines. Their GCs have sent out for all of those apps. </p>

<p>Are there any other restrictions regarding ED? Can students submit regular RD apps before ED results?</p>

<p>The issue is with families who use ED when they know they can NOT afford to pay their family contribution…and then HOPE for enough aid. IMHO, that is wasting a acceptance on someone who really intends to attend if accepted ED.</p>

<p>I agree. That’s bad. </p>

<p>however, as we’ve seen here on CC, the average family that doesn’t follow CC-like forums really has no idea how much schools will expect. Many don’t know about NPCs, or they don’t realize that a NCP will have to provide info (except in unusual cases), and so forth. The schools themselves can be misleading on their mailers and websites the way that they suggest that 'nearly everyone is on FA"…or the whole “average award” amounts that they list.</p>

<p>"… the only people for whom ED is binding are those who are paying full freight."</p>

<p>That is indeed the case, and it’s just not a problem. We can argue the issue academically if we want, and it will occasionally happen that the aid is not enough, but schools with ED and their accepted applicants seem to be quite happy with the system.</p>

<p>Amazon, ED is not just binding for full pay. It is also easily binding for students who receive need based aid awards that make the college affordable for their families.</p>

<p>“Can students submit regular RD apps before ED results?”</p>

<p>Yes, but they must be withdrawn upon ED acceptance, including accepting the offered aid package.</p>

<p>“It is also easily binding for students who receive need based aid awards that make the college affordable for their families.”</p>

<p>Also true, after the family decides that the award makes the school affordable, and notifies the school that the aid offer has been accepted.</p>

<p>I thought that if a school offered loans, for example, as part of the ED package, the student would still have to go there. Otherwise there would be more of a commitment required from the full-pay student. Doesn’t seem fair - especially in the situation elaborated above, where a student also applies to a reach school RD and is accepted and prefers that school. Vonlost - who are you speaking for? Everyone is happy with screwing the full pays?</p>

<p>Amazon…we were full pay parents for two kids at expensive private universities that do NOT meet full need for all students. Like many full pay parents, we had to tighten our belts so our kids could attend these schools. But really, it was possible, and we did it.</p>

<p>If you are a full pay family at a school where the COA is $60,000 a year, your income is at or very near $200,000 a year. At that income level, it is your choice to pay or go for less expensive options. In any event…I would not advocate ED if finances in your family are an issue. PLUS, I would be looking for merit awards.</p>

<p>The family decides if the package is acceptable; it’s that simple. Fairness is not involved. The fullpays are happy to be accepted to their top choice.</p>

<p>So then ED is not binding at all? Anyone can deem a package unacceptable unless it’s a full ride but all fullpays are just happy to be in. Seems like a reversal of the axiom beggars can’t be choosers.</p>

<p>I don’t think it’s that easy to get out of ED but if it were, the system would be flawed and I wouldn’t think that everyone who either makes $200,000 and/or gets into their first choice would necessarily be happy about it.</p>

<p>For example, my children did not apply ED to their dream/reach school but applied to schools that they had a good chance of getting into. If they could have also applied to a reach school and then wiggled out of their ED acceptance that would have been a plus for them.</p>

<p>Amazon…our kids did what your kids did. Both did apply to some EA schools. But as a family, we were not prepared to make a commitment in January…or sooner. And good thing. One kid totally changed their mind about the number one choice. </p>

<p>So much can change between January and May 1.</p>

<p>For some kids, ED is fine. They have a definite preference, and they know their bottom line will. E met by the school. </p>

<p>Like I said earlier…the issue is when folks apply ED for that “admissions edge” thinking that the money will magically appear…either at a school that does NOT guarantee to meet full need…or in a family where Income is too high for need based aid eligibility.</p>

<p>To be honest, those folks are wasting an ED acceptance for a student who actually WILL attend.</p>

<p>I do think ED should be binding. I think once a family has signed that agree,ent, they should NOT be able to submit applications elsewhere. The whole ED thing has taken on a life of its own…and the declining because of finances should have some kind of repercussion for applicants where need IS met, but the family just says NO to paying the family contribution.</p>

<p>amazon, for all but a handful of schools like Elon, it is indeed that easy to get out of an ED commitment. If you apply ED and ask for financial aid, you can say it doesn’t work for you and that’s it. Loans, no loans, it doesn’t make any difference. </p>

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<p>momof3sons, assuming that this means the reaches were submitted EA so the results would be known at the same time as the ED decision–well, if they’re applying for FA then it’s still legit to turn down the ED school. I am curious to know what the ED schools were versus the reaches–can you share that with us?</p>

<p>One of the flaws with Early decision is the fact that people are using early decision not because it is an overall first choice and if admired you would attend ( which is the basic tenet of ED), but to “gain” some kind of admission advantage. It is disingenuous to want to apply early decision where you know that you are suppose to be making a commitment while at the same time looking for an out clause. I think the early plans should be single choice early decision and single choice early action. If you want rolling and to be able to compare packages then do so. However, if you are looking for the “advantages associated with applying early”,you should only be able to apply rolling to your home state university with one early decision/early action application</p>

<p>“To be honest, those folks are wasting an ED acceptance for a student who actually WILL attend.”</p>

<p>From years of experience, schools know what their ED financial aid yields will be, just like they know what their RD yields will be, and plan (accept) accordingly.</p>

<p>“If they could have also applied to a reach school and then wiggled out of their ED acceptance that would have been a plus for them.”</p>

<p>This is where the circulated ED lists come into play to maintain the integrity of the ED system. The ED full-pays and those accepting the ED FA packages will not be admitted RD to schools sharing the lists (and we don’t know which schools share); the ED acceptance being rescinded is another possible risk of applying RD later.</p>

<p>There is NO wait list for ED. Any student accepted ED who does NOT plan to attend is taking the place of another ED accepted student who will. </p>

<p>In the ED round, the schools expect a VERY high percentage of students to accept admissions. This is not like the RD round where students have multiple choices from which to choose.</p>

<p>I agree with Sybbie. I support SCEA only. Or SCED.</p>

<p>“In the ED round, the schools expect a VERY high percentage of students to accept admissions.”</p>

<p>Yes but not 100%, though the percentage should increase now that we have the Net Price Calculators. It’s not a wait list, but anticipation of less than 100% acceptance.</p>

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<p>However, keep in mind that over 60% of the ED class is hooked (recruited athletes, Legacies, Developmental admits, Facbrats, questbridge, Posse NMS, etc). For the BWRK, ED really does not offer much of an advantage.</p>

<p>Schools with ED don’t want it to be only for the wealthy, so the financial aid “out” must be provided so that the fear “bankruptcy” doesn’t prevent the non-wealthy from applying. That’s why schools wrote this into the rules:

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<p>Wow. I had to look up BWRK to find out it means basic well-rounded kid.</p>

<p>But what’s a “Posse NMS”? Possible National Merit Scholar?</p>

<p>Posse program? [The</a> Posse Foundation](<a href=“http://www.possefoundation.org/]The”>http://www.possefoundation.org/)</p>