<p>Agree Vossron and we rarely see that advice “pop up” in threads. As long as kids are filling out their rolling state apps or early admit apps and everything else along the way they should be OK should the ED school fail to offer a package the student can work with.</p>
<p>I think when kids are in the emotional wave that happens when they’re applying ED/EA, they aren’t in the frame of mind to also be applying to safeties or merit schools. </p>
<p>Many of the ED/EA schools are 100% need schools, so those who need help are really hurt when they don’t get the help they think they need. They end up in this limbo situation. Their match schools won’t/can’t meet need, and they’re too late to apply for many top merit scholarships.</p>
<p>That’s why we see so many disappointed kids at this time of year (as well as in the spring).</p>
<p>My son is in this situation. He applied ED to his first choice school (non-binding), was invited to a scholarship day/interview process, was accepted to the school…and then received a very small scholarship that had nothing to do with the scholarship day process (it’s through the school but for an outside program he attended). Our financial aid package is OK, but is dependent on the fact that, right now, his father is unemployed so we’re getting a lot of aid we won’t get once he gets a job (he had aj ob when the application was sent in, which, of course, allowed us a different outlook on the money situation. He’d lost his job by the time the school wanted a ED Financial Aid estimator completed, so that’s how they were able to factor our financial need). We don’t have the money to make up the difference (scholarship and aid do not equal the full tuition amount, of course), and when his dad gets a job and we file FAFSA next year, our EC will have risen considerably, knocking him out of any aid consideration. So, we thought, “OK, we’ll just regroup and see what other schools are out there…”</p>
<p>…and, of course, deadlines for scholarships for a lot of other schools have passed (I don’t understand why so many schools with a RD deadline of Jan. 1 or Jan. 15 have a scholarship deadline of Dec. 1. The RD deadline should then just be Dec.1, IMO, but, that’s me, I guess). His plan all along was to apply to two other schools RD, one a “safety” (and both still will offer scholarships at this date), but he has to make his decision to the first school by Feb.1, well before he’ll hear from the others. It has turned into such a huge headache and literally keeps me up at night. Hindsight is 20/20, of course, but it doesn’t help much now. It’s not a good situation to be in, and not one that I expected us to be in. </p>
<p>And, yes, his guidance counselor suggested he apply ED to this school (which runs about $38,000/yr) to better his chances of getting accepted. She advised the same with another, comparable school that he ultimately decided to not apply to at all (their ED is binding and we had a feeling upfront they weren’t generous with $ and his scholarship chances were slimmer there - thank God we did that right, at least!). Her thinking was strictly based on bettering his chances of getting accepted; finances weren’t a factor in her advice. </p>
<p>And the best part is we aren’t “newbies” at this - we have a daughter who’s a college sophomore. The difference is she applied ED to all three schools she was considering (all non-binding) and we were dealing with one deadline. She was also looking at less expensive schools and my husband was employed, so finances weren’t that big of a deal. We thought we had a Plan B, but it turns out we needed a Plan C and D, as well. And, unless a school’s ED is binding, I’d recommend applying ED to all school choices; at least your application is in and you’re in contention for scholarships. It seems RD won’t get you anywhere if you need money for school.</p>
<p>Are you confusing ED with EA? EA is non-binding. ED is binding, and you can’t apply ED to 3 schools.</p>
<p>Your son definitely needs to quickly apply to some merit schools. Some have “priority dates” that have passed, but will still consider awarding to desirable kids after the “priority date”.</p>
<p>American does not promise to meet full aid requirements, and my scores weren’t good enough to qualify me for merit aid (3.46 unweighted GPA, 1890 SAT with good EC’s). They are, however, my first choice school and I would be devastated if I couldn’t go there because I couldn’t pay for it. My rationale behind applying ED was that I would get to the FA money before the RD kids did and that because it was my first choice that I want to go there more than, say, some kid who put it as an option during RD.</p>
<p>Essentially my goal is to reduce my contribution by as much as possible (isn’t everyone’s?) while avoiding as many loans as possible. The breakdown looks like this (I’m bundling the semester costs into one):</p>
<p>Grants: $19,500
Federal Loans: $5,500
Work-Study: $2,000
Total: $27,000</p>
<p>The estimated cost of attending is $49,837. So, 49837-27000 = $22,837 that I have to foot the bill for. My immediate family’s EC is maximum $4,000, bringing the number down to $18,837. I’m sketchy on my other relative’s contributions to the aid, but I can guess it would be at least $5,000. That brings the total, at worst, to $15,835 to make up in outside scholarships and loans.</p>
<p>By “negotiate,” I guess I mean beg. 
Ideally, I’d like to bring up the amount I receive in grants to make my overall aid package <em>ideally, again</em> $35,000. The problem with ED aid packages is that you don’t have another school’s aid offer to compare it to. AU only wanted the CSS/PROFILE worksheet, so I have yet to do the FAFSA (waiting until next year). But even if the amount of aid is moved up to $35,000, that still means I have $10,835 left to go. That’s without Pell Grants or any other scholarships that I don’t know about yet.</p>
<p>You are essentially talking about borrowing 20.5K per year for four years. That doesn’t even include the cost of travel to and from school over breaks/clothing/books/etc.<br>
In my opinion it is too much to borrow for an undergrad degree.<br>
What is your in state school?</p>
<p>I guess I’d have to say that you’ll just have to get over your devastation at not being able to go there. There will be many things in life you can’t have just because you want it. I mean that in the kindest way. My D is in this boat too. She bleeds NYU. But, unless she lucks into one of their very few top scholarships…there is no way we could afford it. It’s all she can think about, but she’ll end up at our state uni because it will be between 1/2 COA and maybe even free. It’s a shame, I hurt for her. I’d like to give her what she wants. But we also can’t get a Mercedes Benz, designer clothes, or host lavish parties. We live in a house we can afford, and we do without the “best of the best”. Most do. Wanting something doesn’t make it true. You will spend MANY MANY years of your life very possibly regretting these debts. I mean…I hope you won’t! I hope you get an incredible job and can somehow pay it off in ways that those of us who have paid off like debt…can’t imagine. But that’s not very good odds, is it? </p>
<p>You’re still talking about $40,000-$60,000 debt for undergrad AND…keep in mind that some of the “aid” you’re talking about is also loans. That’s ANOTHER $5,500 a year. Another $20,000. There are HOMES for sale in my state for $60,000-$80,000. Your average income at graduation…IF you can get a job (many kids end up back at home), might be…what…$40,000? You’ll take home $30,000. That’s $2500 a month to live on and you’ll take…I’m totally just guessing…$1500 a month to pay off your loan? For…10 years maybe? It’s just not really possible. HAve you spoken to your parents, and/or the relatives you say want to help you? Do THEY know the debt you’re talking about…and what they’re “buying into”. ? I REALLY wish you lots of luck, but I just don’t see the numbers adding up. I think this is why this country is in such economic turmoil right now…too much personal debt.</p>
<p>*My rationale behind applying ED was that I would get to the FA money before the RD kids did and that because it was my first choice that I want to go there more than, say, some kid who put it as an option during RD.
*</p>
<p>I don’t think FA works that way. I think it clearly works by the numbers. However, sometimes a high stats kid will be given an extra scholarship as an incentive.</p>
<p>I guess I’d have to say that you’ll just have to get over your devastation at not being able to go there.</p>
<p>*You are essentially talking about borrowing 20.5K per year for four years. That doesn’t even include the cost of travel to and from school over breaks/clothing/books/etc.
In my opinion it is too much to borrow for an undergrad degree.
What is your in state school? *</p>
<p>Wise advice above.</p>
<p>There’s no way that you can depend on what your relatives might give you. Besides, every year your costs are going to go up. That $49,837 cost is not what you’ll be paying; that is the cost for THIS current school year. When you’re freshman, it will be well over $50k and will rise each year. </p>
<p>Your FA shortfall minus your parents contribution is about $80k total
Your Stafford loans will be about $25k total.
It sounds like you’d have to borrow about $100k.</p>
<p>There are so many things wrong with borrowing that much money as an undergrad.</p>
<p>1) First, you’d need co-signers. No one is going to lend you that much money. </p>
<p>2) After you graduate, you’ll be lucky to be earning between $35k-50k per year (depending on your degree). To pay back even $50k in loans, would require a monthly payment of $575 per month! You’d have to earn nearly $70k per year to comfortably pay that back. And, if you borrow your needed $100k, then your payments will be around $1200 per month. You’d need to be earning about $140k to pay that back.</p>
<p>What is your state school?</p>
<p>
The Pell grant is awarded by the school along with other federal aid such as the Stafford loan. If they think you are eligible for any I would expect it to be already included in the estimated award numbers they have given you.</p>
<p>You are hoping they will increase the grant aid by around $8000. This is unlikely unless there is something in your family financial picture drastically different to what they already know. If your EFC is really only 4000 then they are so off meeting full need that even if there is some change in circumstances it seems unlikely they will meet your need. Is the 4000 your estimated EFC (based on income and assets) or just what your parents say they will pay? </p>
<p>With the award as it stands you are looking at over $20k a year in loans. Much to much. You will be drowning in debt on graduation.</p>
<p>We know that your parents can only contribute $4k per year. What was their EFC? </p>
<p>I want you to think about this… American U is a nice university, but it’s not the only good university around. What are some of the things that you like about it? If you tell us those things, we can help you find something affordable with those similar features.</p>
<p>What will your major be and likely career?</p>
<p>What is your home state?</p>
<p>Mom2collegekids: Some schools call it ED, some EA, some Early Notification, some Priority, some Early Answer, the list goes on. Nope,I’m not confusing anything; it doesn’t matter so much what it’s called as it does what each school’s policy is on it. Wouldn’t it be nice if there were a universal “language” for college admissions? All three applications for my daughter went by different names and none were binding. My son applied “ED” (that’s what they call it at this school) to his top choice and it is not binding. In fact, he can, if he so chooses, request to be taken out of the ED acceptance pool and put in the RD applicant group if he isn’t ready to make a decision by Feb. 1. Of course, he’d give up the scholarship and aid he’s already received and there’s no guarantee he’d get the same offer, so it’s a calculated risk, but I guess some students take it. I don’t think he will. Not the gambling type!</p>
<p>He’s applying a few other places that will still offer merit aid. As a last resort, we may call the state university, even though the “priority application” deadline has passed, and see what we can do, if anything. It’s not where he wants to go, but that’s the way it goes sometimes. We’ll come up with something. As parents, it’s hard to want to give our kids what they want and realize that sometimes you just can’t. But, that’s life. I’m a strong believer that things work out the way they’re supposed to. </p>
<p>And I wouldn’t advise Melie2010 to take on such huge debt, either. It may not seem like it to you now, but it really isn’t worth it.</p>
<p>Bree26, the fact of the matter is that most “ED” applications are binding. I would say that the schools that offer an “ED” that is non-binding are clearly in the minority. For the most part, when people are talking “ED” on CC - we are talking about a binding agreement.</p>
<p>I live in Oregon, and U of O would be my state school. I fell in love with AU this summer, and tried to come up with a reason why it wasn’t perfect for me. I want to be an IR/Political Science major, and AU is the perfect place to do it. I want to study abroad, and they have over 100 study abroad programs. Their Career Center is unbeatable in terms of internships and hooking up alumni with jobs. They’ve even got a good Parliamentary debate team. Their professors are fantastic, their classes are great, and then entire environment of DC is exactly what I want in a college. U of O, while they have the best debate team in the nation, isn’t exactly the most challenging in terms of political science. I have friends who have gotten the degree in 3 years, and they themselves say it wasn’t very challenging. There’s a difference between studying politics in Eugene, OR and Washington, DC. I don’t think it’s the same experience at all, and I’m looking for a political environment.</p>
<p>I know U of O is still an option, and their app is due January 15, but I can’t give up American that easily. I’m filling out the FAFSA with my parents this week so that we can call the FA office next week to appeal the aid decision.</p>
<p>My parents, without loans, can contribute $4,000. I don’t know what they put our EFC at (College Board PROFILE didn’t tell us our EFC), but it has to be way off base.</p>
<p>*My parents, without loans, can contribute $4,000. I don’t know what they put our EFC at (College Board PROFILE didn’t tell us our EFC), but it has to be way off base. *</p>
<p>FAFSA calculates your EFC. Try using this… [FinAid</a> | Calculators | Expected Family Contribution (EFC) and Financial Aid](<a href=“http://www.finaid.org/calculators/finaidestimate.phtml]FinAid”>http://www.finaid.org/calculators/finaidestimate.phtml)</p>
<p>However, remember…at a school that doesn’t meet need (like AU), an EFC means NOTHING. A person can have an EFC of $1,000, but if the school doesn’t meet need, it will expect your family to come up with whatever the difference is between COA and aid - even if that is much, much more than your EFC.</p>
<p>Also, at privates that use CSS Profile, they often expect more from families than FAFSA does because their methodology is very different.</p>
<p>Oftentimes…a family with a decent income will be given an EFC of 1/4 to 1/3 of their income. That can be shocking if a family has a high mortgage or some personal debt. So, it’s not unusual for a family with a combined income of - say $75k - to have an EFC of $20k or more.</p>
<p>I think there is a lesson in politics of admission and economics here.</p>
<p>Just calculated my EFC (Institutional) at $10,616. Turns out there was a special (non-repeating) circumstance that inflated the gross adjusted income to way more than it actually is at. Now I’m freaking out a little less, and I’ll appeal the decision after Boxing Day weekend. Thanks everyone!</p>
<p>Advice to others lurking in the forum: Ask your parents if there was a special circumstance that made your taxes/assets/income, etc. to increase in that specific tax year. If there is one, appeal the decision (especially if you’re ED).</p>
<p>Kleibo, I’m going to respectfully disagree with you. There are plenty of schools where whatever they call their early application process is not binding. And I will stand by my statement that every school is different; that’s what makes the whole EA/ED process a potential minefield. </p>
<p>And, btw…not a mindreader. I didn’t realize there was a entire CC “lingo” I needed to brush up before posting.</p>
<p>^This information, below, was taken directly from The College Board website:</p>
<p>Early decision plans are binding. You agree to attend the college if it accepts you and offers an adequate financial aid package. Although you can apply to only one college for early decision, you may apply to other colleges through the regular admissions process. If you’re accepted by your first-choice college early, you must withdraw all other applications. Usually, colleges insist on a nonrefundable deposit well before May 1.</p>
<p>Early action plans are similar but are not binding, unlike early decision. If you’ve been accepted, you can choose to commit to the college immediately, or wait until the spring. Under these plans, you may also apply early action to other colleges. Usually, you have until the late spring to let the college know your decision.</p>
<p>Single-choice early action is a new option offered by a few colleges. This plan works the same way as other early action plans, but candidates may not apply early (either early action or early decision) to any other school. You can still apply to other schools and are not required to give your final answer of acceptance until the regular decision deadline.</p>
<p>Should I Apply Under One of These Plans?
You should apply under an early decision or early action plan only if you are very sure of the college you want to attend. Do not apply under an early decision or early action plan if you plan to weigh offers and financial aid packages from several colleges later in the spring. Also, you shouldn’t apply early if it is advantageous to have more of your senior year work to show a college</p>
<p>^^This one was taken directly from the National Association for College Admissions Counseling (NACAC). Hope it helps clear up the definitions in question.</p>
<p>Regular Decision
Definition: Students submit an application by a specified date and receive a decision in a clearly stated period of time.
Commitment: Non-binding</p>
<p>Rolling Admission
Definition: Institutions review applications as they are submitted and render admission decisions throughout the admission cycle.
Commitment: Non-binding</p>
<p>Early Action (EA)
Definition: Students apply early and receive a decision well in advance of the institution’s regular response date.
Commitment: Non-binding</p>
<p>Early Decision (ED)
Definition: Students make a commitment to a first-choice institution where, if admitted they definitely will enroll. The application deadline and decision deadline occur early.
Commitment: Binding</p>
<p>Restrictive Early Action (REA)
Definition: Students apply to an institution of preference and receive a decision early. They may be restricted from applying ED or EA or REA to other institutions. If offered enrollment, they have until May 1 to confirm.
Commitment: Non-Binding</p>
<p>Bree26, I think you are referring to schools where there is some early application process, regardless of its name. You appear to be lumping all the programs together (calling them early decision), even though SOME of these programs may be binding. No one is trying to give you are hard time. Newbies are often confused by the difference and Mom103 is probably just trying to point out the important implications of what is typically meant by Early Decision. In your case, you may have seen exceptions, but keep in mind those are exceptions. I’m on my 3rd kid applying to colleges, and I have never seen an early decision that is non binding (other than if the financial aid is insufficient). </p>
<p>In your case, you seem to have looked for “non binding” early programs (and found different schools used different names for them). That was a smart plan and one my two children followed as well. EA/NON binding programs (regardless of name) usually allow students the most flexibility - the student can get an answer early, can apply to multiple schools, shows interest and often helps in obtaining merit aid. But even some of these early “non binding” programs have limitations such as Yale and Stanford. They offer SCEA (Single choice early action) which is non binding like the “early action” implies but only allows the student to apply to ONE early action school.</p>