<p>I have a couple of questions about early decision. A disclaimer, my kids have already attended college and I am just curious at this point. When my kids applied they did not apply early decision as we had to receive financial aid in order for them to able to attend. My D applied regular decision and waited for offers. </p>
<p>I am wondering if since they have the Net Cost Estimator, does that make it easier for kids to apply ED. Does it take the guess work out of what your FA will be or it is still something you would be unsure of. Is there still a stipulation that if you do not receive enough FA you can back out of ED?</p>
<p>Also if you apply ED and back out because you say the FA is not enough, are other schools you apply to aware that you have backed out of ED?</p>
<p>At one college information presentation we were told that there is some kind of “clearing house” where this info goes so all the other schools can know if someone has an ED acceptance and if they back out. Other schools can choose not to admit the student and he could be left with no other options.</p>
<p>I have heard (probably on these boards) that there may be such a clearinghouse for schools that would share - such as the Ivy’s, or the NESCAC schools. I seriously doubt that most other colleges would be upset that a student applied somewhere ED and decided he could not attend for financial reasons. My son’s college even mentioned that ED could be backed out of for financial reasons in their financial aid presentation at open house (his is not a top 50 school).</p>