Reply to Does Early Decision limit chances for merit aid

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It is not quite true that you have to withdraw your applications once you get in ED.  You have to withdraw after you get in ED and you get your financial aid package.

No one seems to say that if you get in ED, you won't get merit aid and the schools by and large deny it.   It would be one thing is a school said - look, we don't give merit aid for ED candidates.  But they don't, to my knowledge.  So taking the chance on a merit award certainly does not seem irrational, particularly where a student genuinely (1) has a first choice and (2) has some chance of merit aid based on grades/test scores.  If the merit aid does not come through and the student can't afford it, then that's the reason the escape clause exists.  The student doesn't get to go, has to apply to other schools, and hope for the best,  And the school is not really hurt in any significant sense, as these cases are going to be comparatively rare,[/quote]

Not getting hoped for merit aid does not constitute a reasonable decline of ED.  They specifically advise you: if you can't afford the number the NPC gives you, don't apply ED.  You would still experience the consequences of breaking the ED contract.[/quote]

While some school may make such a statement, many schools do not.  Typical contractual language is that you are realeased if you do not received "sufficient finanical aid to make attendance possible."[/quote]

Yes, that's often the contractual language--but you're expected to do due diligence on whether the school is likely to meet what you deem your financial ability without merit aid--and the clause is more about financial changes in your situation.  But, you're right, no one's going to arrest you if you break your contract.  But your counselor and other ED schools will know about it.  And if it's a school that's known to fund to full demonstrated need, that's a negative mark on your application to the other schools.   Also if you're hoping for merit aid, 1) look at the stats on merit offers and ED for most schools.  Not good if you take out recruited athletes.  Going ED is shooting yourself in the foot as far as your chances for merit--what's their incentive to offer it?  And if financial aid is really important to you, it's way better to be able to compare packages because schools calculate demonstrated need differently, give different balances of grants and loans.  Essentially by taking this gamble with your #1 school ED, you're lessening your chance of merit aid and just have to give a yes/no on the financial aid package.  If it's no, it's out of the running and you're left with having to choose among what your less favored other RD schools offered.  It just doesn't make sense to me. But it's your choice. [/quote]

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