<p>My top choice school says that they meet full need, if a student qualifies. While I'm sure I'll qualify, I'm not so certain if it'll be enough. </p>
<p>On the other hand, they state: </p>
<p>"Early Decision is a binding commitment,and if admitted, you agree to enroll, pending an adequate financial aid award."</p>
<p>I'm going to visit in the days right around the ED deadline, and I know the admissions percentage increases from 34% to 64% in ED. Is it smart?</p>
<p>It is smart to apply ED if the school is your first choice and if your need for financial aid is flexible.</p>
<p>Even though a school says that it meets “full need”, the school gets to define what that “need” is. You may be able to get out of the commitment if it’s not enough for your family, but you will not have the opportunity to compare financial aid offers from other schools to see if another is more affordable.</p>
<p>Most of my acceptances will come out before or at the same time this school does. I might see preliminary packages at a few of the schools. (based on the information I’ve already given them/in-school scholarships applied to by the EA deadlines)</p>
<p>However, I’m more focused on the adequate part. If it’s absolutely not adequate, then I will have to withdraw. (Regardless of comparison schools. I am fairly positive I could attend cheaper places: ie ASU, but this isn’t what I want.)</p>
<p>As an added note, the school is my first choice. While I haven’t seen everything for myself (I’m sure I’m not the only such person as this) I have talked to an alum, and asked her to tell me every terrible awful thing about the school. The conversation was actually quite lovely. (I think the worst thing she came up with was ‘cold floors in winter’ and ‘there was a really bad gender studies teacher, but they let her go after that year’.) It was telling, and I think in a very good way.</p>
<p>Er, does flexible imply I could do without the lion’s share of the aid they offer? I’m slightly confused upon thinking on it more.</p>
<p>I am also puzzled what “flexible” means; in such cases, it’s usually either enough or not enough. However, when a school admits a needy student ED, the school really wants the student to attend, so if it’s not enough, they may be able to do better given a bit more info. And to clarify, you will be able to withdraw if it’s truly not enough; there is no doubt about it.</p>
<p>One thing to note regarding the different accept rates btn RD and ED, ED tends to be higher because it’s **a very self-selecting group **that applies to ED. It’s not as if they will lower their standards to a significant degree just because one applies ED. </p>
<p>BEst of luck to you.</p>
<p>“Flexible” in this context means that you’re OK with a lot of loans, or that your bottom-line number is not fixed.</p>
<p>In my experience, what one can “afford” is not an either-or situation; it’s always contextual. It’s not simply “it’s enough” or “it’s not enough.” It’s also “Is it worth it?” “Am I willing and able to take on an extra job for this college?”</p>
<p>I know there were some schools for which I would make more sacrifices than others. And unless the money is woefully and obviously inadequate (like $20K or so), most people don’t make the “can we afford it” decision until they have the numbers.</p>
<p>I’m not expecting they’ll completely lower the standards, I’m probably in the range. I <em>know</em> my ACT scores a snugly in the middle of the avg. :)</p>
<p>I’ve even spoken to my regional officer, and they’re paying for me to go out and visit them. (We seem to get along quite well, and I’ll be interviewing there.) </p>
<p>If it’s not enough (pending my acceptance) I’m quite willing to expand my FA issues, and tell them everything I think will help. </p>
<p>Thanks Vossron and T26E4. </p>
<p>I suppose my last question would be if anyone thinks I could hand in my ED agreement/submit the supplement while there. They’re giving me plenty of free time the day before the deadline, and I’d rather update my Why ____? essay whilst I’m there. </p>
<p>Does anyone know if I say I’m applying ED on the common app portion, and I <em>don’t</em> manage to turn in my ED Agreement, will it just turn into a regular application?</p>
<p>_</p>
<p>Ah, I see. Well, is it worth loans? Yes. But 20k a year in loans or 5k? or 40k? I mean, it all depends on the loans, and I assume I’ll have to take on campus jobs. (Naturally). I’ve submitted my CSS PROFILE however, so will I see some numbers?</p>
<p>The amount of loans that can be considered part of aid are limited by (Federal?) rules. Have a look at your chosen school’s Common Data Set (google can find it) section H5 which shows the average total principal borrowed at graduation; this is what you can expect. You will get a preliminary estimate with (or before you must decide) the ED acceptance. It can change, e.g., if your family’s 2009 1040 shows a change in income, your final award can go up or down accordingly, but this doesn’t often cause a change in students’ plans.</p>
<p>Er, I’m googling, but all I found was a data set from 06 for another college that MENTIONS this college. D:</p>
<p>All I’ve found is this: Average Indebtedness of
2008 Graduates $21,283 </p>
<p>Average Freshman Award $32,500 This includes loans, the avg grant aid is $29,000 and the total $51,115. ASSUMING everything is average for me (My dad is legally required to put down 12k a year), I’d be 40k in debt (loans-wise) at the end of 4 years. That seems double the average, but not an entire school year’s worth of cash owed. </p>
<p>It’s the <em>average</em> part I worry about. xD</p>
<p>“*All I’ve found is this: Average Indebtedness of
2008 Graduates $21,283 *”</p>
<p>This seems to be typical for schools that include loans as part of student financial aid. Be sure to distinguish between student financial aid and loans available to families to help meet their EFC. Also distinguish between schools that “meet full need” and those that commonly “gap.”</p>
<p>Vossron: the number I came up with was the average grant + what I know my family is paying with a remainder of 40k at the end of 4 years. Obviously this remainder would be in loans? </p>
<p>I’m confused by what you mean, as I thought I was already showing the difference?</p>
<p>Families pay their EFC with savings, current income, and/or loans, so perhaps yours would indeed be with loans only. Schools that “gap” make what would have been aid at a “full need” school become a family burden in addition to EFC. I realize that I am writing about the general case, and not so much about your situation.</p>
<p>For a lot of schools ED is a lot easier than regular decision…but there are a few things that you have to do before applying early. </p>
<p>First, you obviously have to decide that this college is your first choice. If it is not, simply do not apply. Try finding a school with early action if you just want to get in somewhere early.</p>
<p>Financial aid can also be a problem with ED, but most colleges have a loop hole that would allow you to get out of the agreement if another college ends up giving you more money. </p>
<p>And that is pretty much it…getting in early can be a great thing but if you decide after getting in that you do not wish to matriculate, then you are pretty much screwed.</p>
<p>“Financial aid can also be a problem with ED, but most colleges have a loop hole that would allow you to get out of the agreement if another college ends up giving you more money.”</p>
<p>If you decide that you want to accept another offer before you have to respond to the ED financial aid offer, you just tell the ED school thanks but no thanks (you don’t need any loophole, at least at a Common App school). But if you accept the ED offer, you must withdraw all other apps, so you generally won’t learn of better offers in the future (unless they cross in the mail).</p>
<p>I think I’ve tried to make it very clear that this school is my first choice. That one isn’t the issue. If accepted I would gladly attend. </p>
<p>As for the gap of EFC vs. actual family payment, this was noted. I’m considering this more heavily now, but as it stands, just based on the avg. Grant package alone, the school is close to being the same cost as a full payment to attend ASU (my financial safety). Not exact, but comparably closer. </p>
<p>I’ve realized the approx. loan amounts, and I think I’ll be able to ask about my situation upon arrival. I’ve had my main question answered: Can I withdraw if the aid absolutely isn’t enough? But I’ve read a few books that suggested that if they take a more ‘needy’ student ED, generally a school is willing to put forth more money because they want the student. I’m going to guess that to an extent, aid offered is flexible on the school’s behalf because they want the matriculation rate of ED applicants to be very high. </p>
<p>However, must last question…</p>
<p>If I send in a common app marked as ED and don’t end up filing the ED agreement for whatever reason (If I decide I can’t go through with the agreement due to finances) does my application automatically become a regular application?</p>