<p>Again, you need to know the school’s policies. Most of the ivies now have no loans at all as part of the packages. There are other schools where you could not take the chance because they do indeed load kids up on loans, and in that case it’s a good idea to compare. Columbia, which the OP asked about would be a safe bet is the proper homework was done and the family can afford their EFC.</p>
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<p>I understand what you are saying, but many, if not most, schools meet financial need at least partially with Stafford Loans and Perkins Loans which are in the student’s name. Those ARE considered financial aid. Loans in the parents’ names (PLUS loans) are typically not considered part of the financial aid package. </p>
<p>Some schools have a “no loan” or “limited loan” policy. Check to see if your child’s schools have this. These are usually amongst the most generous…and most competitive schools. BUT worth checking.</p>
<p>If you have an inkling of a worry about finances, I would suggest you NOT apply early decision.</p>
<p>The advice to not apply ED if finances are concern isn’t always the best advice. My son applied ED because financial aid was a HUGE concern. He applied ED to a very generous school that meets full need without loans, and has its own online calculator. Honestly, if ED gave him slightly better odds of getting accepted, it could be that ED is the very reason he’s able to afford to go to college at all.</p>
<p>We did go into it knowing we wouldn’t be able to compare aid awards, but he was very certain about where he wanted to go, and we were comfortable that if he got in we’d be able to swing it with the aid available.</p>
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<p>That is the key. If you are comfortabe handling the costs with the aid you think you are going to get…go for it. If you are NOT comfortable or certain about it, you should at least think twice about the ED plan.</p>
<p>I agree, thumper1. I’d also add that, for those considering the ED “opt-out if it’s not affordable” loophole, to give careful thought to the difference between “I can’t afford it” and “I just don’t want to pay that much.”</p>
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<h1>1 - It is only an estimate. There may be other factors in your case that changes the calculation.</h1>
<h1>2 - what if they meet your need with all loans? Would you still go?</h1>
<p>The key is thorough, accurate research and calculation. If you’re not able to do it than ask the school for an early read. This is much safer at the high endowment schools like columbia which have little variation in how they treat different students.</p>