How does Early Decision for a financial standpoint?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's essentially affirmative action for people who don't need financial aid.

Its not affirmative action. Someone has to pay or they cannot keep the school open. Many of us save from the time our kids are born and live modestly forgoing things like vacations to put that money away for college. So, yes, I think my kid should get some benefit to it than another kid whose parents have the same income or higher who choose not to save and lives much more comfortable life.

Some of us have saved and lived modestly from the time our kids were born and despite that, cannot pay $70+K/year per kid for college, and do not qualify for need-based aid.

It must be soothing to live in such black and white terms.

And that is why there are a variety of college options at a variety of price points. A family should guide a student toward schools that fit within the budget. Look at it like buying a house or a car. There are luxury options, there are practical options, and there are bargain options. There is a college for everyone. And before you argue that everyone should have access to the top rated options, consider that every option can have a successful outcome. A top-rated college does not provide any guarantee of a successful career, and often provides zero advantage as compared to a lower rated reputable school. You can get from point A to point B successfully in a BMW, a Nissan, or a Hyundai. You just need to choose the one that suits your budget.

[Anonymous]

Problems arise in ED when parents object to the financial aid awards as "not being enough," even though the award is what could have been expected at the time of application. Sometimes that is just buyer's remorse (if she can get in here . . . ), and sometimes it is a genuine panic over having to pay. In these situations, you might be able to argue yourself out but that will likely be extraordinarily stressful for your child (unless she has decided she no longer wants to go there) and might cause issues with other applications as well. ED is really not for game playing and as others have said, should only be used when your child is certain it is where she wants to go and you are confident in the finances. Some schools do likely use it to favor full pay, but that is certainly not the exclusive use.