<p>I haven't found any posts on this topic yet, so I thought I'd make one. I'm a junior this year, and am seriously considering applying ED to a school next year (bet you can't guess where). However, my parents are against this, because if the school don't give enough financial aid and I don't get enough scholarships, I'm in serious trouble, because I'm in that terrible income range where you make more than enough to not qualify for need-based aid, but there's no way you can actually afford college tuition all by yourself. However, the school's acceptance rates for ED are much greater than those for RD, and to be honest, I just want all this pressure to end as quickly as possible. Has anyone else faced a similar dilemma, and what did you do? Any opinions, comments, or suggestions? Thanks!</p>
<p>Well you can look up the school's financial aid averages. Some school will guarentee to meet full financial need (Their total cost minus your EFC). You can do some calculators and estimate how much this will be. If the school does guarentee this, see if your parents can handle the price with what your finaid package might be. Your ID says upenn so I'lll assume its upenn. Heres the finaid info for that school.</p>
<pre><code>* Average percent of need met: 100%
* Average financial aid package: $26,978
* Average need-based loan: $3,028
* Average need-based scholarship or grant award: $22,651
* Average non-need based aid: Not reported
* Average indebtedness at graduation: $21,133
</code></pre>
<p>I'd suggest not applying ED...</p>
<p>If you check CC's archives, you'll find a lot of posts on this subject.
Do NOT apply ED if financial aid is a concern. While theoretically one can back out of ED for financial aid reasons, that can be hard because the college may feel that they have met 100% of your financial need, but your parents may not be willing to pay that amount.</p>
<p>Also, when one applies ED, one's GC usually really goes to bat for you and may recommend you over other students who'll be applying RD to the same school. If you back out of ED, your GC may be angry and may not work so hard to help you get offers from other schools.</p>
<p>Applying ED also keeps you from being able to compare financial aid offers. </p>
<p>Any alleged ED advantage isn't worth it if it comes at the expense of your basically having to go to a college that costs more than your family feels they can afford.</p>
<p>upennite - IMPORTANT IMPORTANT IMPORTANT </p>
<p>DO NOT BE SWAYED BY THOSE HIGHER ADMIT RATES!!!!!! Let's look at Princeton's recent ED admission situation to understand why. </p>
<p>Princeton accepts around ten percent regular decision and TWENTY FIVE PERCENT early. Seems like it makes a lot of sense to apply early - right?? </p>
<p>WRONG! Here's why:</p>
<p>[This data is from Princeton's website.] Of the incoming ED pool, 31 percent were not white. While Asians are probably the opposite of URMs, we can assume that more than half of that 31 percent were URMs. Let's say 25 percent were URMs. So, now our pretty 25 percent acceptance has dropped to around 18 or 19 percent for the average applicant. Now - let's consider the legacies and the recruited athletes. According to the two college counselors I know (who've been in the field for ~20+ years), about 25-35 percent of the ED acceptances are legacies and recruited athletes. So, let's take the middle of that range - 30 - Now, our admit rate is down to ~13 percent. That 13 percent admit rate for 'everyone else' isn't as nice looking as the 25 percent that was.</p>
<p>FURTHERMORE - Stanford reported that half of its 4800 applicants had either near perfect or perfect test scores and were at the top of their respective classes (4.0s and above). Stanford is much like Princeton in that it's very competitive - so we can know that the half of the 'regular applicants' have perfect SATs and GPAs. Princeton reports it rejects 2/3 of its Valedictorians (lets just call everyone with perfect test scores and gpas a val). So, we get rid of the 50 percent of perfects that get in, and drop it to 16. </p>
<p>So now, if you're NOT a URM, perfect SATs/GPA, or recruited athlete, your pretty 25 percent acceptance rating turns into [25 x (1-(.35+.20+.16))] 7.5 percent!!!!! </p>
<p>That's LESS THAN Princeton's normal acceptances!!!! </p>
<p>Furthermore, if you're deferred, it's a lot harder to convince adcoms that you're it when they've concluded once before that you're NOT it. Going from a clean slate to yes is a lot easier than going from no to yes. </p>
<p>Think about it. </p>
<p>Yes the calculations were REALLY dirty, but the point gets across. Colleges are right - there is no advantage to applying early. The applicant pool IS stronger in the ED/EA pool, and URMs, legs, and recruits get some nice preferential treatment. </p>
<p>BOTTOM LINE: If you're 'normal,' apply RD.</p>
<p>I don't get your calculation for Princeton. Are you assuming that every URM or legacy is admitted, or how do you get to your conclusions?</p>
<p>first off, stanford and princeton numbers are offpoint wrt to Penn, which absolutely loves ED; ED should increase your odds of admissions. </p>
<p>But, if you carefully run the efc calculators on CB and your efc is $45k plus, you chances of receiving need-based aid are slim at most need-based schools, and you will have nothing to negotiate with need-based schools.<br>
Since most of the top tier are need-based only, you'd have to drop down several notches in the rankings for merit aid, unless you have a real hook. But, be advised that merit aid at, say Duke, Hopkins or Chicago, is extremely competitive.</p>
<p>I would suggest you discuss your situation with Penn's finaid department. Perhaps your familiy's financial situation is not easy to input into the efc calculators and Penn would find you deserving of more aid. Of course, that need could be met in the form of loans.</p>
<p>Yeah - alright the caclulations are really REALLY REALLY dirty. </p>
<p>Anecdotal proof - my college counselors say that you only get about a percent or two if you don't have legs, skin color, first gen status, or sports star.</p>
<p>Like everyone else said... applying ED isn't worth it unless you're the absolute best. ED is the most competitive applicants, plus the legacies, plus the sports people. </p>
<p>I got lured into applying ED to my first choice school. Yup, I fit into all their medians, looking good, went for an interview, which went well, visited twice, yup... I was so sure I was going to be holding an acceptance letter come Dec. 15th.</p>
<p>Well, I got rejected. And it really put me behind in the application process, just because I had waited until I got that ED decision before applying anywhere else (to potentially save the application fees). So now I'm scrambling, sending out apps, going on interviews, visiting schools and having to take days off from high school to do the visiting and interviews so now I've got makeup work too.</p>
<p>In my opinion? Not worth it. Not financially, not academically- unless, of course, you're a legacy, have a hook, personally know an admissions counselor or unless you're absolutely brilliant. And rich, too.</p>
<p>Sorry... that's my little rant. XD I hope you make the right decision.</p>
<p>
[quote]
I'm in serious trouble, because I'm in that terrible income range where you make more than enough to not qualify for need-based aid, but there's no way you can actually afford college tuition all by yourself.
[/quote]
</p>
<p>If this is true, then you have no choice but to pursue a "merit-aid" strategy in college admissions. An aggressive merit-aid strategy cannot include a binding ED application.</p>
<p>An effective merit-aid strategy requires applying to schools for which you are at the top of the applicant pool. Therefore, worrying about an acceptance letter from those schools shouldn't even be an issue. If you are worried about just getting accepted, then you won't be a candidate for merit aid at that school.</p>