<p>I'm also going to have to disagree with hmom5, because although I'm one teenager, I'm not reporting my thoughts, rather I'm simply reporting the facts. Although I may not have as much experience or wisdom as 20 adults, I think the text from the actual early decision agreement is the best "advice" a student can get. While I agree that breaking an early decision agreement will most likely render bad consequences and should not be done, the question was about whether the early decision agreement can be broken for financial reasons and about withdrawing regular decision applications. There is no need to make it personal either by insulting sondosia's "maturity" or my "thoughts."</p>
<p>I'm always up for a good debate and to hear everyone's views, but in this case I'm not sure you kids understand what the ED commitment means.</p>
<p>The schools fully expect you have done your homework and know what their aid package is likely to be. If finances are a concern and a school does not meet 100% of need, you are hurting yourself and your family by applying ED. Not to mention yourr school, your counselor's credibility and future applicants to the college from your high school.</p>
<p>Should the OP get at least the average percentage that NU normally meets, there is a very big chance they will not let the OP out of the ED agreement to go to a school that meets 100% of need as many on her list do. They will let you out to go to a less expensive school yes, but that does not mean that if NU looks at the financial picture and determines that they gave a fair offer that they won't scuttle her chances at 100% need met schools.</p>
<p>For that extra 10% chance you get, or whatever percent it is, you are giving your commitment that money will not be an issue unless something in your financial picture changes. If the OP is hoping they will consider financial factors not typically considered, she will very probably be out of luck.</p>
<p>Last year I watched an ivy that accepted a kid who had applied ED at another school and been accepted without withdrawing all apps, accept the kid, find out and rescind two days later. The ivy offered a lot more aid, but the ED school had offered the typical percentage of need for them. The kid ended up at State U, the only the school he applied to the ED school was willing to let him out of the contract for.</p>
<p>While part of my posting on this subject was certainly to call attention to the ethics involved, I also think you kids need to understand the risks. Everyone would apply to their dream school ED if it was as easy as just saying sorry, I think I'll go to one of those schools known for better aid.</p>
<p>And do you guys wonder if adcom read these boards? Many do annd have weighed in about how they feel about the ED commitment. Anyone posting here that they take the conmitment lightly who has made themself identifiable may quickly find out just how small the world of college admissions is.</p>
<p>And here's the link for the thread where maany parents who've been watching admissions for years weighed in:</p>
<p>Accepted ED but not offered enough financial aid?? ( 1 2 3 4)</p>
<p>I don't feel I have posted anything an adcom wouldn't mind reading, to be honest.</p>
<p>You make a valid point that ED is, in fact a commitment. And while I am a teenager, I do feel I have a grasp of the risks. I've seen several of my former classmates have to decline an ED acceptance simply because the school could not offer their projected aid. NU is down in endowment dollars this year, as are many schools. All I'm saying is that ED is worth a shot even if you apply for financial aid. Some schools may project a certain amount of aid available, but simply do not have the funds to financially support every applicant.</p>
<p>If schools didn't opt to try and offer fiancial aid, no ED applicant would be able to apply for it.</p>
<p>I'm not trying to discredit you, hmom5. In all honesty, I do think you make several valid points. I'm merely trying to explain where I'm coming from and while I didn't personally apply for financial aid, my opinion is based on both my view, my GC and what I've been told by adcoms at other schools. I could be completely wrong and if I am, I'll own up to it.</p>
<p>Alright, since ordinary discussion is not possible without having my maturity questioned, I will now quote the text of the Early Decision agreement that I signed:</p>
<p>
[quote]
Early Decision (ED) is the application process in which students make a commitment to a first-choice institution where, if admitted, they definitely will enroll. While pursuing admission under an Early Decision plan, students may apply to other institutions, but may have only one Early Decision agreement pending at one time. Should a student who applies for financial aid not be offered an award that makes attendance possible, the student may decline the offer of admission and be released from the Early Decision commitment.
[/quote]
</p>
<p>Unless there was some VERY fine print in that agreement (other than "Copyright 2008 The Common Application, Inc."), I think I made the right decision.</p>
<p>By the way, unless Northwestern plans to rescind my acceptance (should they offer one in the first place) by instant messaging, I highly doubt they could do it by finding my on this forum.</p>
<p>Bank, I was not implying you said anything wrong!</p>
<p>There is detailed info available on the percentage of need each school meets on average. For the wealthiest schools that percentage is 100. That allows applicants to know that if they are accepted, the college will meet 100% of the family's need as they define it. They are all happy to spend time with you telling you how they define it and most will also work with you to estimate what you would pay. This allows families to know whether they can make a commitment or not. They are still taking a risk that there might be more loans and less grants, but they can look at the college's policies and determine if they can handle it before committing.</p>
<p>When money is an issue and the school not only publishes data showing that they almost never meet need and they have a reputation for not being generous, a family has to weigh that in making an ED decision. </p>
<p>Every college has lost a significant part of their endowment, Harvard lost $8 Billion. Yet they will continue to meet 100% of need as will the other schools mostly continue their aid policies.</p>
<p>Let me also say that I believe ED is an unfair advantage the wealthy have, but it's just one among many. I applaud the colleges that have dropped it. But it is what it is, and we know what signing on the dotted line requires.....</p>
<p>"Northwestern University offers financial assistance to students on the basis of need. We are among a small group of private institutions that continue to meet the full demonstrated institutional financial need of our aid applicants."
from Northwestern</a> University - Undergraduate Financial Aid</p>
<p>NU says they will meet 100% of your financial need determined by the fafsa and css. Sondosia I don't think you have anything to worry about. NU promises to meet your need 100% and if they don't it would provide a reason to withdraw from the ED argreement. Financial aid was a worry for me also, but because NU gives such good aid (meeting 100%of need, and the 20,000 loan cap for all four years) I still applied thru ED.</p>
<p>I don't think you should regret your decision at all. They would not force you to go to the school if you absolutely cannot afford it, as it pretty much states in the ED agreement.</p>
<p>Also, a rep. from the financial aid office at NU came to my school for a financial aid information presentation. I am also applying ED and I asked about the CSS profile and what it is used for. He told me that it is only used to give you an estimate of the amount of financial aid you would be receiving after you get accepted. They only use the CSS profile because the FAFSA is not available in time to use for ED. BUT, when it is available, you must send that in as well and they will use that information to give you the final financial aid amounts. The FAFSA also asks for more information than the CSS profile and gives you a chance to explain any other financial circumstances, such as expenses for other family members (siblings/grandparents) and they will also take that into consideration when coming up with your expected family contribution.</p>