I was all set to apply ED to my top school until I sat down with my parents and realized the early decision worth it financial aid question is kind of the whole issue for us. On paper, I get the idea: ED can help a little with admissions chances and shows the school you are serious. But if the package is bad, I do not want to end up trapped in a situation we cannot actually afford.
I know people say you can back out of ED for financial reasons, but I am still confused about how that works in real life. Like, is it only if the aid is way lower than the net price calculator suggested? And do schools make that process difficult?
My current situation is:
- top-choice school is need-aware
- I would need pretty significant aid
- their net price calculator gave a number that seems possible but still scary
- I have other schools I like, but this one is definitely my favorite
So I guess my main question is: how did you decide whether early decision was worth it when financial aid was a big factor? Did anyone here apply ED while needing a lot of aid and feel good about that decision after?
I would also love to hear if anyone chose EA or regular decision instead just to compare offers. I am trying to be realistic and not let the “dream school” thing mess up my whole application strategy.