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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, 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? 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]

Yes, the college application process has changed significantly in the past 10-15 years. Toss out most of what you knew, and start learning.

And your understanding of ED is correct. If they offer admissions you are on the hook to accept, unless they do not offer you enough financial aid to make it feasible. Exceptions would include something substantial changing from the time of application (e.g. parental death, job loss) or the aid package coming in far below what was predicted on the Net Price Calculator (NPC). You are expected to withdraw any other acceptances you have received (for example if you apply early action to another school, or to a rolling admissions school).

The calculators are pretty accurate; my child is going through the process now and while he did not apply ED (wanted to compare scholarship and financial aid packages) every college where he was offered at least, and in 1-2 cases slightly more, than each school's NPC predicted.

It is important to use BOTH the FAFSA calculator which estimates the amount of federal aid your child is eligible for and each school's NPC calculator. The results are often quite different.

In general, ED is risky if you need financial aid, less because the ED school is unlike to offer you what they predict, but because you may be forgoing an even better offer from another college and you would never know it.

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