<p>Well I know that Princeton is my #1 choice and if given the chance to go there I would choose it over any other. I don't plan to post my stats, but they're decently competitive (I'll probably graduate valedictorian if not salutatorian). Anyways, the problem here is finances. My parents make around 150,000 (they're very protective of the exact number, but I got it out of them that its near this figure) but don't plan to pay a cent for my education -- neither of their parents paid for theirs so they don't think they have an obligation.</p>
<p>Anyways, this means that I won't be able to meet the EFC. The thing is, I really have no qualms about taking out loans for Princeton, so if worst comes to worst I'll take out ~$150,000 in loans (my parents support me here, so they'll cosign). </p>
<p>The main problem I have is that if I happen to be accepted ED, I will have virtually no bargaining power to loosen up the loans I will have to take out to meet the EFC. </p>
<p>Does anyone know how these matters usually end up? To those in Princeton (or alumni) do you know anyone who has had to take out huge amounts of loans to go?</p>
<p>Any advice or helpful personal information is more than welcome!</p>
<p>I was in the same position and I decided to go on and apply ED. I figured that, with the exception of the possibility of getting an Axline from Caltech, I probably wasn't going to get aid from any of the other schools I planned to apply to, and wasn't going to have anything to bargain with anyway.</p>
<p>I'm not saying that you should or shouldn't apply early, but you should consider planning ahead and sticking a good chunk of money in a high-paying CD so that you'll have a few extra thousand dollars by this time next year.</p>
<p>Go to Princeton's online financial aid calculator to get an estimate of your EFC. With that family income, you will be unlikely to be eligible for aid anyway, so there's no harm in applying ED. I doubt you would be in a position to bargain either way.</p>
<p>You will get aid with that income....I got a very decent amount. I feel for your situation because my parents' favorite two words when it comes to college tuition are "student" and "loans", in no particular order :p. </p>
<p>Unless you are planning to apply for merit scholarships at other schools, the deal at Princeton is amazing: you get the best undergrad experience ("arguably" :D) at the best price around. Princeton was #1 on a list in US News Report for students graduating without debt. </p>
<p>So, I guess I would advise you to apply ED, because honestly most likely you will get deferred, as will all of us. I think the ED interest would help you in RD. However, if somehow you have absolutely no way to pay the EFC you can back out of ED, but I'm not sure how to go about proving that, especially if your parents make 150K. </p>