If anybody is planning on 1) applying to Brown regular decision and 2) eligible for need-based financial aid, then I can’t recommend applying to the University of Pennsylvania strongly enough. Even if you don’t have any interest, because if I had not done a Penn app I wouldn’t be going to Brown next year.
Why? Brown compares, and oftentimes matches financial aid offers from other Ivy-caliber schools. Penn has a no loan policy in their financial aid packages (Brown will require you to take out loans) and the estimated family contribution is usually calculated lower. I was accepted into both schools, so my Penn app was essentially just a $12,000 per year scholarship application to Brown. They matched my Penn financial aid offer ($12,000 less) and even undercut them by about $1,000 per year. My price tag went from $24,000 to $12,000. Thanks Penn!
The reason I recommend Penn the most is because it has a higher acceptance rate than Brown, higher chances of being able to compare financial aid packages. About 10% compared to 9%.