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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If your ability to attend is contingent on receiving merit aid, you cannot apply early decision.

You might, but might not, get merit money, and regardless, once accepted, you are obligated to enroll.[/quote]

My understanding is that [b]if you don't get the FA package that you need[/b] you are allowed to not enroll based on finances. I've read this multiple places. [/quote]

That understanding is not quite right.... if you don't get essentially the same level of FA package that the NPC suggested you would receive when you ran the NPC before applying to the school only then you are allowed to break the ED agreement.

On the other hand, if you ran the NPC before applying, saw an unaffordable EFC number, and yet applied ED anyway then you have no valid basis to break the ED agreement.  [/quote]

The NPC is only an estimate. Does it say "run the NPC before applying ED" on the ED contract? Many things can change. Maybe the student is hoping to get a scholarship from somewhere else or merit aid. Maybe the parent is going to get a raise, but doesn't. If you think you can swing it but find out you can't, you need to break the contract. I don't think the contract is based on the NPC. The "valid reason" is you don't have the money you thought you would, wherever it might have come from.[/quote]

If you are the kind of person that would break an ED agreement because you didn't get the raise you hoped for, or would break it because your snowflake did not get the Jefferson Scholarship at UVA he wanted, then all I can say is that the ED school is better off without you and your kid.

I don’t get the reason for the distain. If someone’s child wants to apply early and is committed to going to a school but it turns out they can’t afford it because they didn’t get enough FA, merit aid, or money from somewhere else that they were expecting, they are allowed to say “we don’t have the money.” This is why there is a clause related to lack of finances.

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I don't get it either PP. Anyone interested in applying ED and money is an issue should talk to the school to clarify their ED policy. Almost all allow you to turn down the offer for financial reasons and don't specify what those reasons need to be. People making disparaging comments about people who turn down ED for financial reasons don't know what they're talking about.[/quote]

Simply not true.  Several admissions representatives we spoke with said, if your ability to attend is contingent upon receiving merit scholarship money, then do not apply ED because it is a binding commitment.[/quote]

It is a binding commitment with a clause that says if you can’t pay then you can break the commitment.[/quote]

I think the point you are missing is that the college/university gets to decide what you can afford, not you.  If they think you can afford it (based on the numbers you provide and financial -- not merit -- aid available), you're stuck.  [/quote]

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