<p>There are so many threads of discussions over the course of even a week that it's not so unusual to miss relevant and important topics. That said, if something is THAT important to anybody, do try the "Search" function located at the top of the College Discussion board. </p>
<p>Having spent many years in the business world reading and evaluating contracts, I always consider the practical implications of an agreement, as well as the legal ramifications. It is not uncommon to have documents that are "legally binding" to be impractical for many reasons. Many "legally binding" contracts are also not easily enforcible, and even then, the consequences of breaching an agreement may be relatively innocuous to the point where even an "injured" party may elect not to pursue damages.</p>
<p>In the case of defaulting on an ED acceptance/agreement, the concern to the student should not be whether or not the agreement is simply "legally binding", because for all intents and purposes it is likely not and moreso does not matter. However, the agreement is "binding", and thus submitting an ED application is one that carries an obligation. For those who decide with a willy-nilly arbitrariness to break such an obligation, there are repercussions. </p>
<p>There are a number of contingencies available to colleges to forestall the potential for what I'm sure they see to be capricious or dishonorable behavior to opt out of a moral commitment. This act of default alone creates the perception of a disorganized, uninformed applicant at the least, and at worse, a perception of an individual lacking in good character (i.e., honor). If one is considering one of the Ivy League schools as a "better" option, you should read carefully the "Joint Statement on Common Ivy Group Admissions Procedures". As you can see for yourself, the Ivy League takes the ED commitment very seriously, "legally binding" or not. The statement includes the following about December (early) notifications:</p>
<p>The College Board-approved Early Decision Plan, which is offered by Brown, Columbia, Cornell, Dartmouth, the University of Pennsylvania and Princeton, requires a prior commitment to matriculate; thus a student may not file more than one Early Decision application among these or any other institutions. Financial aid awards for those qualifying for financial assistance will normally be announced in full detail at the same time as the admission decisions. An applicant receiving admission and an adequate financial award under the Early Decision Plan will be required to accept that offer of admission and withdraw all applications to other colleges or universities. All Ivy institutions will honor any required commitment to matriculate which has been made to another college under this plan.</p>
<p>Here's a link to the statement from Harvard's website (similar statements are made at each of the Ivy schools' websites):</p>
<p><a href="http://www.admissions.college.harvard.edu/utilities/faq/Common_Ivy_Statement.pdf%5B/url%5D">http://www.admissions.college.harvard.edu/utilities/faq/Common_Ivy_Statement.pdf</a></p>