<p>so if u cant afford it then that school wont be all up on you for not keeping your word?</p>
<p>There is some incredibly naive stuff going on here. They give you lots of aid because you pledge to go? Just the opposit where merit aid is concerned. They've already got your pledge, why give you the money when they need to use it to rope in an RD candidate who has offers from better schools? As for need based, why give someone already committed the grant money?</p>
<p>But getting more loans and less grants isn't an out. They have still met your need even if you don't like how.</p>
<p>erm to the person who said only apply ed if you love the school, simple as that... i apologize, but i dont have to love the school... it's all a matter of opinon. I need a good degree from a good school, and i don't care where i get it from, i can tough out four years if it sets my future in place, its a risk im willing to take. Pre vet is competitve enough. And I was just curiouse, if i get accepted... i would go lol.</p>
<p>No offense, but that's honestly the dumbest thing ive ever seen on this site. Going to a school soley on name-recognition is a stupid thing. We go to college, generally to a school that fits us well, both physically and emotionally. Going to a college that is well respected, but you hate isn't going to have you in a great mindset just because the name carries all the weight. From what you've said, you're wasting a ****load of money, unless you plan on going to your state university. You'd be wasting a lot of money for a private school.</p>
<p>
[quote]
1) It is legal. Contracts are legally binding documents.
[/quote]
Actually, a contract signed only by a minor is not a legally binding document. This is intended to prevent forced child labor and to protect children from unfair agreements that they do not fully understand or might be coerced into signing. (As, for instance, we often are at school: "Here, sign this promising not to get upset when you're arrested for unknowingly being in the presence of drugs. If you refuse, you can't come to school.") The only exception is that in some states it is possible to petition the court for emancipated minor status at 16; in some cases this may confer the right to sign a binding document. (This allows independent minors to find work and housing on their own and a way around the employer or landlord's hesitance to take on the risk of a one-way binding contract.)</p>
<p>If I remember correctly, there is a parent/guardian signature as well.</p>
<p>If you cannot afford the school, you do not have to attend. Period. You just need to notify the school of your reasoning. Sometimes the school will come back with a better financial offer, sometimes not. If you tell them, "I would need this much aid to attend," and they give it to you, you will probably be expected to attend. Otherwise, financial issues are the one reason you can get out of ED, because you cannot be required to go to a school you can't afford, and financial aid decisions, obviously, come after the acceptance.</p>
<p>Usually, they only restrict you from applying to comparable schools. If you opt out, which is breaking a contract, then your options are usually going to be your own state schools. If you clearly can't afford it (by their definition, i.e. they don't meet EFC) then they will release you.</p>
<p>
[quote]
If you clearly can't afford it (by their definition, i.e. they don't meet EFC) then they will release you
[/quote]
</p>
<p>No school is going to meet your EFC unless they give full merit aid that covers the cost of attendance because the EFC is your expected family contribution based on the income/ assets of your family.</p>
<p>Keep in mind that even at schools that commit to meet 100% of your demonstrated need do not meet this need in the same way.</p>
<p>I think suze summed it up well</p>
<p>
[quote]
They have still met your need even if you don't like how.
[/quote]
</p>
<p>is it ok if you get accepted ED at nyu and then say you cant afford it and then attend fordham? Are the prices at fordham and nyu almost the same?</p>
<p>They do NOT only have to meet your EFC. It's generally understood that just meeting the EFC is not enough for many families, and you usually don't know your EFC when applying. If another school makes you a better financial offer, the school has the option of making you the same offer. Speak to admissions in the ED school and explain your other financial offer to them - they will give you the information you need.</p>
<p>It would be crazily illegal to try and blackmail a student into attending a school they, in practical terms, could not afford. The school will not do that, as long as that is the real reason and you can show it in numbers. YOU are responsible for crunching the numbers - if Fordham ends up ultimately costing more than NYU, you can't claim this. Also, as I said, NYU has to get the first opportunity to offer more aid.</p>
<p>Freekobe-
Once you're accepted ED, aren't you obligated to withdraw all your other applicatations? That means you'll never know whether you got into Fordham or what kind of aid they would have given you.</p>
<p>wat if they dont give me enough money and i withdraw it then later apply in january to fordham?</p>
<p>freekobe- yes, you can apply to other schools once you've convinced your ED school that their aid isn't enough for you. I'm not sure how soon they'll notify you of your aid package, though. It might be after the Fordham deadline has passed.</p>
<p>I hate morons like that who use ED to their advantage.</p>
<p>Does ED cost any extra money or anything? I dont see why some people say cost is a worry if you give them a financial aid threshold to work with.</p>
<p>
[quote]
They do NOT only have to meet your EFC. It's generally understood that just meeting the EFC is not enough for many families, and you usually don't know your EFC when applying. If another school makes you a better financial offer, the school has the option of making you the same offer. Speak to admissions in the ED school and explain your other financial offer to them - they will give you the information you need.
[/quote]
</p>
<p>Not true because first of all financial aid is calculated as follows:</p>
<p>cost of attendance- EFC = Demonstrated need </p>
<p>the cost of attendance (tuition, room/board, books, misc) - </p>
<p>EFC (expected family contribution) is based on the income and assets of the students, parents, based on the information submitted on the FAFSA, which determines the eligibility for federal aid (stafford loans subsidized/& unsibsidized loans, perkins loans, pell grants and if the school has the funds SEOG grants) and the CSS profile or the School's own financial aid form (for institutional need- need based FA that uses the schools funds in terms of grant aid).</p>
<p>It is up to the family to come up with their expected family contribution as the school does not meet this money (families that usually cannot meet it take out loans).</p>
<p>Not every school (infact very few) meet 100% of your demonstrated need. At schools that meet demonstrated need this need is usually met through qa combination of :</p>
<p>grant/scholarship aid (money that does not have to be repaid)
self help aid (usually student loans and work study)
and/or
PLUS loans (parents loans)</p>
<p>Schools use different methods for meeting your demonstrated need. A college could essentially offer you all loans and they will still have met your need.</p>
<p>When a student applies ED (binding admission), they basically give up their right to compare packages because the basic premise of ED is in exchange for an early decision admission, if admitted the student will commit to attend. They will withdraw all other application and will not make new ones. </p>
<p>If a student needs to compare FA packages, then they should apply EA which is non-binding or RD.</p>
<p>A school cannot make you attend a school ED but they can inform other schools that you have backed out of your ED agreement.</p>