<p>I have read conflicting opinions on this subject. Some things that I have read state that you have a better chance at being admitted AND getting financial aid if you ED. However, I have also read that it kills your chances of 'shopping' for the best deals. I would like to hear the opinions of the CC crowd on this.</p>
<p>Also, how does the being let out of the binding ED due to financial issues work? Since they are basing their aid on the FAFSA, how would you then say "I still can't afford it" and get out of it (if that is the case)? Wouldn't they already know that? Do you have to show some further documentation? Or are they going to just say "get a student loan"? We're just wondering, in case this happens. </p>
<p>The problem with ED is, like you said, that you can’t shop around for financial aid. So you may end up getting a package that’s almost entirely student loans.</p>
<p>Now, obviously that’s bad; sure, you may be “able to afford it”, but you’re going to have to pay that debt off once you graduate. If that wouldn’t be disastrous to you, I say go ahead and ED, because it’s not LIKELY to happen.</p>
<p>But if you absolutely need to have a good financial aid package, ED is a bad idea. Not because it’s likely you will run into problems, but because if you do you’re in trouble.</p>
<p>Use the search function, this has been addressed over and over. Bottom line, unless the school meets need in a way that you are fine with and you can afford your EFC, don’t apply ED. Most schools do not meet need and should be avoided ED by those who need aid.</p>
<p>Thanks amarkov. For us, fin aid would be absolutely necessary. Husband is going to lose his job right before she enters college, and we don’t know what our fin situation will be after that. </p>
<p>I guess I’m confused as to why I keep hearing she will have BETTER odds at getting a more generous fin aid package with ED? This is all so confusing!</p>
<p>Usually, ED is seen as the better option if your daughter has a great GPA, great test scores, etc. ED is good if you’re financially stable, and have a good idea in mind what the college is going to give you. Check the financial aid website of the college, call their financial aid office, get whatever info you need before you make that decision. Considering your husbands situation, I would pass on it. Its better to weigh all of your options and make a final decision than be stuck in one that will hurt your family in the long run.</p>
<p>Wrong ^^. If you are admitted ED, some colleges try their best to work with you on your aid plan, despite your restriction to it. Most schools give their ED/EA applicants priority in receving merit aid, so they might be helpful. Not sure if there is a preference for financial aid though.</p>
Applying ED needing FA is appropriate if she has a number one dream school above all others that she will attend if it’s financially possible. If not, she should wait for the best FA package at RD time.</p>
<p>If she applies ED to a Common App school, these instructions apply:
<p>This means that if the FA package offered with ED acceptance is not enough to support attendance, she just says thanks but no thanks and applies RD later to other schools.</p>
<p>A known upcoming job loss throws a wrench in the works; you would have to talk the school’s FA office to find out how they would handle the expected drop in your income. At a school that guarantees to meet full need for four years, they may very well increase aid as your need increases, but they’ll explain their policy if you ask.</p>
<p>When a school accepts a FA student at ED time, it means they really want her, so you can expect them to work with her.</p>
<p>hmom5…thanks for your input. I <em>did</em> use the search function…many times…and have read so many things about all of this that it is blurring together. I have some pretty severe health issues that sometimes cause me to not understand things as easily as I use to, so maybe that is the problem. </p>
<p>Will7…thanks for your response as well. The opinions and info that both you and hmom5 have shared are a condensed version of EXACTLY what I have been running across! So, it’s hard to know what the right thing is. Is the answer that it’s different from school to school? Maybe we just need to be honest with the schools and see what they say???</p>
<p>And btw…daughter is trying for merit and/or talent $ as well as financial aid. Here’s hoping!</p>
<p>Anyone else have info/advice on this topic???</p>
<p>Hi vossron She does have one school in mind that she reallly wants to go to…and that we think is a perfect fit. The question will be if they will offer her any talent/merit as well as need-based. She is very smart and should graduate with an unweighted 3.75 and probably in the top 10-15%. However, her SAT’s were not stellar. Her dream school is an LAC that has SAT’s as optional, so hopefully they won’t hold as much weight as other schools. She plans to audition (theater major) and hopefully be offered talent $.</p>
<p>I guess we will explain the whole situation when we visit, and see what they say. Thanks so much for your input…very helpful!</p>
<p>She doesn’t seem like a good candidate for ED if you’re counting on merit aid.</p>
<p>Keep in mind that merit aid can reduce need in the eyes of colleges. Unless this is a generous, high endowment school, getting both may be a long shot.</p>
says thanks but no thanks and applies RD later to other schools.</p>
She does have one school in mind that she reallly wants to go to…and that we think is a perfect fit. The question will be if they will offer her any talent/merit as well as need-based. She is very smart and should graduate with an unweighted 3.75 and probably in the top 10-15%. However, her SAT’s were not stellar. Her dream school is an LAC that has SAT’s as optional, so hopefully they won’t hold as much weight as other schools. She plans to audition (theater major) and hopefully be offered talent $.</p>