What happens if you have to back out of ED?

[sybbie719]

<p>From the Joint Statement for Candidates on Common Ivy Group Admission Procedure</p>

<p>

</p>

<ol>
<li>December Notification</li>
</ol>

<p>Under December Notification, an applicant may be notified that he
or she has been granted or denied admission or that a final decision
has been deferred until the early April notification date. Two plans
are offered according to individual institutional policy:</p>

<p>a. **The College Board–approved Early Decision Plan, which is offered by
Brown, Columbia, Cornell, Dartmouth, the University of Pennsylvania,
and Princeton, requires a prior commitment to matriculate; thus a
student may not file more than one Early Decision application among
these or any other institutions. Financial aid awards for those qualifying
for financial assistance will normally be announced in full detail
at the same time as the admission decisions. </p>

<p>An applicant receiving admission and an adequate financial award under the Early Decision Plan will be required to accept that offer of admission and withdraw all applications to other colleges or universities. All Ivy institutions
will honor any required commitment to matriculate which has been
made to another college under this plan.**</p>

<p>b. A single-choice Early Action Plan is offered by Harvard and Yale.
Admission notice is sent mid-December; financial aid notification is
sent at that time or when the file becomes complete. This plan does
not require a commitment to matriculate, and students may apply to
other colleges at any time under those colleges’ “regular” admission
programs (spring notification of final admission decision). Students
are urged to consult the specific school’s admission literature for
details concerning Harvard’s and Yale’s requirements regarding this
plan. Students are urged to consult the admission literature available at
each Ivy institution for details concerning its particular December
Notification Plan.

</p>

<p>It will be the school that will determine what is an adequate FA package based on your family’s income/assets. Thre may be a disconnect between what the family thinks they can afford to pay and what the school thinks they can afford to pay. I suggest that you now talk to your parents about how much they are willing to pay/borrow for your education. When they give you an answer, believe it. Don’t think that the money will magically come after you are admitted if the gap is more than your parents are willing to pay. If you enter your information correctly on the Dartmouth FA calculator, your estimate will be pretty much spot on.</p>

<p>I agree with Consolation, that you should not apply ED with the mind set that if the money is not right, that you will draw and apply RD to other schools because this may end up backfiring on you. There is enough information out there so that you and your family can do your due diligence in figuring out what your EFC will be. Also remember that your GC probably will not forward your information (recommendations, transcripts) to the other colleges for admissions until your have been released in writing from your RD school.</p>