<p>"Well here's my question though, theoretically, what if you wait for another college to send you a decision letter so you get their financial aid offer and they offer a better financial aid package. Wouldn't "This commitment is binding only if sufficient financial aid is offered," come into play because it seems sufficient financial aid wasn't offered since for example your #2 college sent a better aid offer? I'm just being hypothetical."</p>
<p>No, "sufficient financial aid" doesn't meant getting aid that matches any other college's offer. "Sufficient financial aid" means that by the ED college's standards, they met your financial need. They may give you less than your parents are comfortable paying. They may also have more work study or loans than you're comfortable accepting, but if by their standards, they met your need, you're stuck.</p>
<p>Now, if the ED college gives you aid that by their standards, meets, for example, only 80% of your need, then they probably would release you from your agreement. However, this does NOT mean that you can wait until April and then get released. Most ED schools give you your estimated aid with your ED acceptance. If you have a problem with your aid, that's when you need to talk to the ED school and get released from your acceptance if they can't give you what you need. </p>
<p>When it comes to places like Ivies that guarantee to meet 100% of your documented need, they are not going to release you because, for instance, a school like Emory offering merit aid offers you a full ride. The Ivies will release you to go to a public institution, however. The Ivies and similar colleges also send first tier colleges lists of the students accepted ED and those college will rescind offers if they know that a student whom they have accepted has an ED acceptance elsewhere. This is true, at least, for the private colleges. I don't think the public colleges care.</p>
<p>You don't get to play the game both ways. </p>
<p>Some students learned this the hard way a couple of years ago when Harvard allowed students who had applied ED elsewhere to also apply EA (which is no nonbinding) to Harvard. Some students got EA Harvard acceptances and ED acceptances from Podunk U. When Harvard learned of the Podunk U ED acceptances, it withdrew their EA acceptances because the students had made a commitment to attend Podunk U if accepted ED.</p>