<p>I'm pretty sure they didn't look at people's financial information as a part of the admissions criteria as it is directly against their promise and I feel like Vanderbilt takes the new initiative pretty seriously. Also, I think I was pretty borderline and my family had a pretty low EFC so if they were looking I doubt I would have gotten in. That said, EDers probably would as a whole be wealthier than RDers because despite the new initiative it's still risky to apply ED if you don't know how they will calculate your EFC. So they might have considered that by accepting more EDers, they were accepting more people who wouldn't need aid or at least wouldn't need a lot of aid.</p>
<p>I agree that most kids applying ED don't need financial aid. Isn't that why some schools got rid of it - because it favors the wealthy? Personally, we would never have allowed our S to apply ED if paying full freight was an issue - to risky.</p>
<p>All universities are still a business - they need money. In the binding ED rounds (at all schools), they probably know most of those kids' parents are willing to shell out the 50K so I would imagine they have to actually look for reasons to reject you. I think if you fall in their range and apply ED you stand a great chance of acceptance. Its a guaranteed 50K in pocket --smart business! A bit unfair? Probably.</p>
<p>There are pros and cons to both.</p>
<p>Wealthy EDers -
Pro: your kid gets into the schools of his/her dreams (which makes a happier family)
Con: you pay the large amounts of money</p>
<p>Poor RDers-
Pro: You can compare financial aid.
Con: You have a good chance of not getting in.</p>
<p>Hilsa - You are right about the "pros" although we didn't want our S applying ED for reasons that had nothing to do with money. We just thought it would be nice to have "options" then if he ended up going it really was because he chose it over all the others. In the end, he insisted it was his dream school so he's off to Nashville in August. I just hope he ends up loving it as much as he thinks he will!</p>
<p>The "con" is unavoidable, we would be paying the full amount at any school our kids attend and most of the ones we considered were around the same amount. So, not really a "con" in our eyes, just part of life. You can't put a price on education.</p>
<p>No, you can't put a price on education. But it's not good going into tremendous debt either. My family makes below 50k combined and so the 50k package for Vandy would be absolutely impossible for us to pay for. </p>
<p>But we'd probably get a decent amount of aid if we got in. But still, if our EFC is 10,000, that's a hell of a lot to pay when we can just afford paying normal bills and no luxury spending.</p>
<p>Honestly, I'm just rather sad about this ED being skewed towards the wealthier. I hope you can understand. Like I've written before, during my Vandy interview, it was very evident that Vandy was my top choice and that I know lots about it. So my interviewer blatantly asked "Why didn't you apply ED, since they are need-blind and give 100% demonstrated need?" He has to realize that an EFC is different from the amount that families can actually pay.</p>
<p>I totally agree that it is skewed towards the wealthy. Believe me, I am fully aware that it is alot of money for many to pay. We try very hard for our kids to understand how incredibly lucky they are compared to most kids that have to worry about how they will pay for college. I can only hope it sinks in.</p>
<p>I hope things work out for you - that you get admitted and get lots of money!</p>
<p>Hilsa, Vandy truly does meet need, which is more than almost every other school in the nation does. If your EFC is $10,000, you will be expected to pay that ... however, because Vandy no longer packages loans into its need-based financial aid, you would be able to borrow up to $5500 in unsubsidized Stafford loans freshman year to help meet that EFC. That is truly amazing ... I know, because I work in financial aid at a state U. At more than 99% of schools, you would get $5500 in loans as part of your financial aid package - leaving the $10,000 EFC to be financed completely by your parents - plus, you might still have a gap between COA and aid. Vandy is one of the best deals around for those who have demonstrated need.</p>
<p>I guess I should stop complaining. Vanderbilt IS the best when it comes to giving away money to those that need it.</p>
<p>Again, it's just me worried that I might not get in to the best school in the country when it comes to giving away need-based aid. So that's my fault.</p>
<p>@dwhite - thanks! And that is admirable that you're showing your kids how lucky they are. Arrogant college students are definitely not needed.</p>
<p>Okay, Hilsa, time to take a deep breath and let go. You can't change anything by worrying. The admissions decision is out of your hands. You have done everything you can to get yourself to this point. It's time to let fate play out. Turn your attention to other things - and before you know it, you'll have your answer.</p>
<p>P.S. I hope it's the one you hope for!</p>
<p>@VandyPrayer</p>
<p>lol? next month?</p>
<p>
[quote]
Isn't that why some schools got rid of it - because it favors the wealthy?
[/quote]
</p>
<p>That WAS the PR argument used by H, P & UVa (which the gullible press ate up), but their admission statistics for the past year show that RD also favors the wealthy. The number of Pell Grants at these schools was virtually unchanged year-over-year.</p>
<p>But, yes Vandy is need-blind.</p>
<p>Good luck to all.</p>
<p>^Interesting. Although you have to admit it was an effective PR argument because on first glance it DOES make sense. Not many will actually research the details of each school's grant packages. In addition, I believe the problem for lots of families is the EFC -sounds like it can be the wildcard.</p>
<p>^^Yes, absolutely an effective PR campaign. Many on cc even bought into it. But, the simple fact is that admission to highly selective colleges favors the wealthy regardless of ED or RD. Kinda hard to participate in the Intel science competition while bagging groceries at the local supermarket!</p>
<p>Smalllab</p>
<p>Yeah, I applied ED II.</p>
<p>Isn't it true though that Vanderbilt ED is only technically binding if it is financially affordable. Meaning, if you are a financial aid seeker, you can decline your admission if the financial aid package does not work out the way you hoped. </p>
<p>Of course, they give you an estimate in December, and will do everything to make it affordable for you. The final aid is given in April, and if it changes drastically from the December offer, you are not obliged to attend.</p>
<p>Technically that argument is void because the financial aid they deem appropriate is the legal mandate for what you can and can't afford. Then again, you can back out of any contract. It's not important enough to them for them to sue you, but they would win if they did. Usually in those cases they won't do anything, but I'm sure if you ****ed them off they'd at least notify schools in their consortium.</p>
<p>There has been a lot of discussion on this subject on other forums. The consensus is that if you back out, your name may be circulated among peer schools as having backed out of binding ED. That is why ED is risky if aid is a factor in your decision. That said, few schools would offer a better package than Vandy.</p>