Are there advantages to applying Early Decision to colleges?

I'm considering applying early decision to a few schools, but I'm nervous about the commitment. Can anyone share if they felt it improved their chances of admission or if there were any drawbacks?

Applying Early Decision (ED) does have several potential advantages, however, it's important to weigh these benefits against potential drawbacks due to its binding nature.

Benefits:

1. Higher Acceptance Rates: Many colleges tend to have higher acceptance rates during the ED round compared to regular decision. On average, applying ED has been shown to result in a 60% increase in admission chances at super selective schools when controlling for profile strength. For instance, if your chances were typically 4%, that could jump to about 6.4%.

2. Early Results: ED allows you to hear back from your top-choice college earlier (usually in December) which might lessen the anxiety tied to waiting for admission decisions.

Drawbacks:

1. Binding Commitment: Applying ED means if you're accepted, you're bound to attend that college (unless the financial aid package isn't sufficient). This might limit your flexibility in making a choice based on factors such as academic options, campus culture, and financial aid.

2. Limited Financial Aid Comparison: Since ED is a binding agreement, you won't have the chance to compare financial aid offers from other schools. You should check the school's net price calculator to get an estimate of your anticipated financial aid from the school before applying.

Before deciding to apply ED, make sure that the college is absolutely your top choice and that you feel comfortable with the financial commitment.