<p>So...I'm sorry, but my search engine isn't working. DON'T YELL AT ME FOR THIS ALREADY BEING DISCUSSED =(</p>
<p>How hard is it to get out of an ED contract? I'd love (LOVE) <em>LOVE</em> to apply ED to a certain school, but my financial situation isn't exactly the best.</p>
<p><$20,000 annual income =/</p>
<p>oh, and by the way, this school is known for lacking in the aid department. </p>
<p>why am i even asking this? i know the answer.</p>
<p>somebody tell me it's ok!</p>
<p>It's not a situation you want to get yourself into...</p>
<p>Even if the school isn't known for good finanical aid, it seems like with a <20K income, you'd still get a ton. However, if you don't, you could be totally screwed.. I don't know if you can even get out of the contract. :</p>
<p>Most colleges say that one can get out of ED if they don't meet your financial need. Realize, however, that it's the college, not you, that determines your need and whether they met it. </p>
<p>The college could, for instance offer you $30 k in loans a year and say they met your need, and then not let you out of your ED contract. If you try to apply to other colleges, they may reject you because you have an ED acceptance that you weren't released from.</p>
<p>If financial aid is a concern, do NOT apply ED. When you apply ED, you can not compare financial aid offers or request recalculation if you get a better financial aid offer from another college.</p>
<p>And the person who said that because you are high need, you'd get "a ton" of aid is wrong. Most colleges in the country can not meet 100% of all accepted students' documented financial need. Some colleges that do meet students' need do so with high loans. There are only a small percentage of colleges that are able to meet 100% of documented financial need of all accepted students, and those colleges tend to be the nation's wealthiest, and also some of the most difficult colleges in the land to gain entrance to.</p>
<p>Well look at it this way: you can't go to the college if you can't afford it, regardless of the contract, right?</p>
<p>If this is NYU, every single person I know who's gotten in has turned it down because they didn't get enough finaid. I wouldn't do it if I were you... :/</p>
<p>Don't do it, it's not worth the risk that you'll be screwed financially.</p>
<p>ABSLUTELY NOT</p>
<p>The whole point of ED is that you love this school SO MUCH that your willing to pay to get in rgardless of whatever financial aid package they givve you. So this pretty much caters to the rich, which is why Harvard abolished it.</p>
<p>Sounds like NYU. If it is, I've talked to the admissions people there and they say you can back out because of financial concerns. If it isn't, I would imagine that other schools have similar policies.</p>
<p>Also, I would guess that NYU's or other similar schools' financial aid gets the bad reputation for its treatment of middle and upper middle class kids and not for people with parents making under 20k a year.</p>
<p>Ivys not give full rides to families with <60,000 bones. Look into it. Duke also gives similar, though not as generous aid. Many schools give you aid.</p>
<p>Let me put it this way: do you want to go to this particular school? Obviously you do since your applying ED. But if you cant afford it ED then what makes you think you can afford it RD?</p>