<p>I'm considering applying ED to Harvey Mudd since it is definitely my first choice. The problem is that I've heard that ED is a bad idea when you need financial aid, since you can't compare aid offers. </p>
<p>However, there are some things that I think mitigate that problem. My parents said that they can afford $30k/year, and when they did the FAFSA forecaster, my estimated EFC was $30k-$40k. Harvey Mudd promises to meet demonstrated need, so I shouldn't have to pay more than $40k there. My parents can afford $30k and I might be able to make up the rest with scholarships, by working, or with loans. Since Harvey Mudd has the highest average salaries after graduation, I should be able to pay off loans fairly quickly.</p>
<p>Also, I'm not sure how easy this is to do, but it's possible to back out of ED if the financial aid offer isn't sufficient.</p>
<p>Considering those factors, do you think I should apply ED?</p>
<p>Yes, it is possible to exit the ED pact if you feel the aid theyre giving isnt sufficient.Also, note that the FAFSA EFC may not be the EFC acc to the college.</p>
<ul>
<li>i think you could apply ed if youre sure harvey mudd is your first choice…</li>
</ul>
<p>Your parents are willing to pay only the very lowest range of the FAFSA EFC and there is no way you can qualify for loans without their loan guarantee which they may may be unwilling to do. You can easily back out if they want $40K+ from you but you lose the chance to see if their offer is competitive with peer institutions.</p>
<p>I would go on the Harvey Mudd forums and see if current students got aid offers that met or exceeded their expectations based on the FAFSA calculation. Unless there appears to be a trend that way, I would suggest you go RD.</p>
<p>And you cannot back out of any ED agreement if you feel they are being stingy, the only way to get out of the signed and legally binding agreement is to defer your college experience one year. However, the admissions offices and financial aid offices are completely separate, so you will most likely get roughly the same aid at most schools of that size.</p>
<p>Absolutely not true. Yes, you can back out of the ED agreement if you feel that you’re not receiving enough FA. The ED agreement is NOT a “legally binding” agreement. An ED school will not (and cannot) take you to court if you say you don’t want to enroll. However, if you back out of an ED agreement if you’ve not applied for FA, then other schools participating in the Common App system may (and probably will) deny your application. </p>
<p>Admissions and FA offices are separate, but not all admissions offices work on a need-blind basis. Finally, aid offers vary widely from school to school for the same student. That’s why a family that MUST get the best possible FA offer shouldn’t have a student apply ED. </p>
<p>OP, I second YaleGradandDad’s suggestion to go research Harvey Mudd’s FA awards here on the CC Mudd forum, and also on the Parents forum. Also make sure that there’d really be a significant advantage for you in applying ED. </p>
<p>Also, consider this scenario: you are admitted ED, and your aid package means you’d be paying $41k. You and your family decide, regretfully, to turn down the offer. Then during RD you find out that the Mudd offer was the best one you received…but it’s too late to change your mind. Or, you and your family accept the offer, agree to take out loans and then see other students with similar stats to you getting great FA packages at other schools that wouldv’e been on your list. If you’ll take the risk of these possibilities in order to get a possible ED bump, then sure, go ED. Otherwise, tread carefully.</p>
<p>Hey OP, I took a look at your stats and at Mudd’s aid policies. You’ve got great numbers and ECs, and you’re a female interested in STEM fields–for all you know, you could be a contender for one of Mudd’s merit awards. Which I’d argue is another reason for you to apply RD, not ED. Schools generally use merit aid as a sweetener to lure the undecided during RD, not to reward the already commited during ED. Mudd’s policy may be different, of course. So check and find out if it’s a better plan to wait till RD. Remember, your goal is to get in AND have it be affordable. </p>
<p>Yes, you SIGN a document that says you will NOT accept any other college offers that school year if you are chosen under a binding ED agreement. Too small of FA is no grounds to break the agreement. You are probably thinking of the exception to the rule; you can still enroll in community colleges if you break ED.</p>
<p>From the ED supplement which must be filed as part of the Common Application:</p>
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<p>From the College Board website mentioned above:</p>
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<p>In both cases, my emphasis added.</p>
<p>I usually don’t call out individual posters who post misinformation, especially those who are high school students and who possibly just are starting to learn about the process–but EsotericalApp, you are entirely wrong in everything that you are writing about the ED process on this thread. </p>
<p>Any student who wants to apply ED should carefully read all of the rules about ED applications, but should be assured that yes, you can back out of an ED acceptance if the FA award doesn’t make it affordable for your family, by your own family’s judgement.</p>