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[quote=Anonymous][quote=Anonymous]My kid is just starting high school but I've started looking at this forum. Things certainly have changed since I was applying for college. If you apply to a college ED, [b]are you essentially saying that you will definitely accept if they offer admissions? If so, you just have to take whatever FA they give you[/b]? So this is only for wealthy kids who can afford not to compare FA packages, right? How does the school's FA calculator come into play? Just trying to understand how this works.[/quote]

Not exactly.

You can run the Net Price Calculator (NPC) on each schools website to determine your Expected Family Contribution (EFC).  That will tell you how much need based financial aid you can expect from the school.  Print out a copy of the NPC results.

If you are comfortable with paying the EFC after running the NPC then go ahead and apply ED. If your kid is accepted and the amount of your EFC and the amount of need based financial aid  provided by the school differs significantly from the amount indicated by running the NPC before you applied -- then you are released from the ED commitment to attend the school.

You do not want to apply ED if you have an unusual financial situation (like a small business) as the NPC results may not accurately reflect the final need based financial aid offered.

You also do not want to apply ED if you are counting on merit-based scholarships that are not guaranteed for specific GPA/ACT/SAT stats.   Backing out of an ED acceptance because you did not receive a merit scholarship is not an appropriate use of ED. [/quote]

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