<p>Ah yes...but each school calculates your need differently, and each school meets your need differently. If you apply ED, you do not get the chance to compare. One school may give you a preferential aid package with mostly grants, another may choose to meet your need with mostly loans. Both "meet" your need. </p>
<p>As an example, this year my second child applied to eight schools. 7 of those "meet 100% need of 100% of their students." The eighth school had the most ridiculous package, with my son graduating with over 40K in loans, and my husband and I with another 60K in loans. (We will have two in college, and still have two more to go) Good thing he did not go ED there! </p>
<p>Of the remaining seven, his grants ranged from 25K per year to 17K per year; our family share shifted between 8K and 12K; or in other terms his "free money %" in his aid package was anywhere from 83% to 56%. The difference can be several thousand dollars per year. While that won't necessarily be a deal breaker between a school you love and school that you like, it can make a difference if you have several schools that you would be equally willing to attend. Remember, the difference compounds each year, so a a school that is 5K per year cheaper is really 20K cheaper. That's a lot of loan to repay.</p>