Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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

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.

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.

Generally, you must file the CSS profile or something like it with an early decision agreement, so that the school knows your financial situation. If they can’t meet your need, then go right ahead and break it.

But, you can’t just decide that you don’t like the school anymore and break the agreement. Also, your statement implies that the applicant is relying on some increase in income to make the education affordable. That’s NOT how this works. You rely on historical income and existing assets when filing financial aid paperwork.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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

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.

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.

Every college financial aid office suggests in writing on their website pages that you run the NPC before you apply so you know what to expect in Financial Aid.

A loss of a job is a change in financial circumstances that would justify breaking an ED agreement.

ED agreement says you have to withdraw other applications immediately when you get in ED -- so I don't see how you can wait to find out about merit aid offers from elsewhere without violating the agreement.

Finally, "I did not get a merit scholarship from the ED school" is not a valid reason for breaking the ED agreement. It is particularly invalid at a school that does not offer any merit money to begin with.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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

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.

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.

Anonymous wrote:

Anonymous wrote: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.

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

THE OP ISNT ASKING ABOUT FA.

people go on and on about this but the economics is pretty darn clear:

If you reveal you are willing to pay full price, people will be less inclined to offer you less.

For my money, I would expect the schools understand incentives, reservation prices and bargaining quite well.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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

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.

+100. This is our understanding of the policy too. Previous threads about how easy it is to break the agreement is hogwash.

Anonymous wrote:

Anonymous wrote: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.

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

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.

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

There is no question this is true. What are they going to do if you don't have the $, sue you?

However, you might not be able to attend just any other school that offers you more merit aid either.

ED schools stick together on these things, most likely you will end up in-state if you turn down an ED acceptance.

Anonymous wrote: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.

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

An added reminder as your child applies, many schools have earlier deadlines for students who hope for merit awards. This would be for regular decision applicants. Pay close attention to deadlines.

Merit aid is used to entice students they want in the class. If you’re locked in an early decision agreement, they’ve got you already.

DD got merit aid for an ED application, but I’m guessing we may have gotten a bit more if she had waited. That being said it would have been maybe $5K per year more at most and my daughter loved the school and didn’t want them to possibly waitlist her. Girls applying to LAC (especially white and non legacy or athlete) are a dime a dozen so there’s more risk with waiting. Boys apply in far fewer numbers so he might be better of waiting if you’re concerned.

If you’re willing to share which school, we can help with more specific information. I’m assuming your son is a junior right now as I believe all ED deadlines have passed.

Merit aid is typically given to students with high SAT or ACT scores as to attract them to enroll so that the school can include that students scores in their reported averages. Merit aid without desirable test adores is less likely despite a high GPA, as most top schools do not report an average GPA.

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.

My son wants to apply early to a school he really likes but I’m afraid it will limit his chances of getting an merit aid, which we could really use. I’m afraid we may not qualify for any FA. Does anyone know if most schools don’t give merit aid to ED applicants? My impression is that merit aid is usually used to encourage applicants to attend. So if you are an ED applicant why give you merit aid? Any thoughts?