<p>Vossron, I'm a lawyer. I can read and I know how to interpret what I read. If Reed writes on its web site that it has binding ED and then tells you privately that it isn't binding, that's great for you - I'm glad you asked that -- but I certainly don't think its fair or honest to all of the rest of the applicants who are going to read the paperwork and believe what it says. </p>
<p>I am not "assuming the worst" about Reed - I am assuming the best. I am reading what is written in plain, unequivocal text on their web site and choosing to believe that they are being accurate in what they print, and that people who make unsubstantiated claims to the contrary on the internet are simply mistaken or misinformed. </p>
<p>All colleges will say that they will let people out of ED if the financial aid award is not satisfactory, but that doesn't exempt the person from possible consequences of their decision, and the problem is that they college's view as to what is appropriate may be very different than the applicant's view of what is needed. High school guidance counselors see what is going on, and they may also have some familiarity of the family's financial situation -- so if they feel that the award was reasonable and see a student fail to carry out their end of the bargain and enroll, then they are not likely to help that student with other college apps, and they may go so far as to let other colleges know of the ED acceptance. </p>
<p>I don't like ED. I think the practice is discriminatory against financially needy students and makes an unfair demand on students to commit to a college without full information as to costs -- even the award you get in December can change radically in the spring based on the next year's tax returns. </p>
<p>But I still think that ED constitutes an agreement, and as much as I dislike ED, I dislike people who would play games with it and look for ways to avoid their commitment even more. A student who applies ED is asking for early consideration against a smaller applicant pool in exchange for the promise to attend if admitted. If the student doesn't intent at the outset to honor that promise, then the student shouldn't apply ED.</p>