<p>The problem here is that we have no idea what the situation is with the OP’s family and finances. The answer that ClassicRockerDad gave OP regarding admissions chances is right on. Cornell out and out admits that they give a tip to ED applicants. So it would give the OP a better chance, IMO and OP is within range. So, yes, if the finances are worked out with the parents, then this is the way to go. Hopefully, OP has gotten parent’s financial info, run the NPCs, spoken to parents and has a reasonably good idea what the situation is here. It’s not the student who will be taking out heavy duty loans all on her lonesome. All the student is guaranteed to get in that regard is $5500 freshman year. IF the student and parents can’t pay what Cornell expects them to pay, it’s the PARENTs who have to sign for the loans, not the student. So yes, that all should be clarified before applying to a school ED.</p>
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<p>It depends on the options. For example, there was a low income kid about a year ago who got into UCONN in-state for Computer Science. His EFC was 0, but he really had no other viable options but UCONN. His parents were willing to take out PLUS loans which he would pay back. So really it might have come to a total loan of $80K over 4 years. The expected starting salary exceeds $60K/yr. </p>
<p>In Connecticut, the options starting with community college doesn’t put one in a position to transfer to UCONN after two years and graduate in 4. It would take longer and isn’t necessarily cheaper because of the extended time which delays the students first year salary and costs additional tuition. This student, if successful will be able to live an upper middle class lifestyle with high probability even with paying off his parent’s loans. </p>
<p>However, it’s not an $80K loan at once. It’s $20K and then assess. So I thought that it was totally reasonable to borrow the 20, go to UCONN take the intro CS class and see if the student can do well enough to be confident to borrow the next $20K installment. </p>
<p>The alternative was going to CC for 2 years and study computer technology to become a system administrator or tech which has a much lower lifetime salary. </p>
<p>In a case like this, I thought taking the chance on that first year at UCONN made sense. His parents would be betting $20K for a likely return of over a million dollars lifetime. </p>
<p>Borrowing that kind of money to attend an OOS public that really isn’t better than your own in-state public doesn’t make sense. </p>
<p>Borrowing that kind of money to study anthropology probably doesn’t make sense. </p>
<p>I think one has to do a careful analysis of what kind of life one would lead after graduating and making loan payments. </p>
<p>Like some others have said, OP, you need to look at your circumstances w/finance. In other posts, you’ve mentioned engineering – generally solid starting salary. you also mentioned med school. Very bad starting salary – and insane amounts of additional debt. You’ll be broke way into your 30s. A lot “just depends”.</p>
<p>I think you’re asking about Cornell ED b/c you’re hoping for the possible boost. Reality may dictate that you don’t apply to ED anywhere – you may need to face that fact. Perhaps not, but ED isn’t for everyone.</p>
<p>And for this person (who claims to be a Penn Wharton aspirant) to say this:
is simply ludicrous.</p>