<p>I have a question for the experts on this forum. Suppose I am offered admission under Early Decision at a private school, but the financial aid sucks. Am I still obligated to take up that admission offer or is there a way out? I want to know this before I start applying for ED at a particular school.
Thanks.</p>
<p>Sorry, I should have typed "ED" in the title.</p>
<p>If you have any concerns about finances, do NOT apply ED because even though the colleges say that inadequate financial aid is the one reason that one can get released from one's commitment to go to the college if accepted. that rule is hard to apply.</p>
<p>For instance, the college may give you what it believes is meeting 100% of your financial need, but your parents may not agree. If so, tough luck.</p>
<p>Another possibility: The college gives you need-based aid which looks fine to your parents until they realize that if you go elsewhere, they won't pay a cent. Your parents can then refuse to pay for your ED college, which won't release you from your obligation to attend. Your GC at that point would be ticked (because when students back out of ED for reasons the colleges don't accept, the colleges take revenge on the GC and on other students who are applying), and probably would not be very supportive in other college and scholarship applications.</p>
<p>If finances are a consideration, the most important thing that you can do is make sure that you're applying to a school that you know you'll be accepted to, can afford, and will definitely love attending. That means not applying anywhere ED.</p>
<p>you can certainly back out. My friend got accepted ED to NYU Sten but without enough money, and now she's going to Georgetown for almost a full ride.</p>
<p>If you check CC's archives, you'll find posts by people who found it very difficult to back out of ED for financial reasons. You'll also see posts by very disappointed students who got into their dream schools ED, but weren't able to go there.</p>
<p>Thank you, Northstarmom, for your clear explanation. I have decided NOT to apply for ED because for me getting the most financial aid is the number one criterion for choosing a school. If I get a full ride at lower-ranked school, I'd go there because I believe that 90% of the undergraduate college educatio is basically what you learn on your own by following the textbooks that are nearly the same in every school.</p>