Benefits of choosing Early Decision 2?

I'm considering applying to a couple of schools under Early Decision 2, but I'm not sure what advantages it has over regular decision. Does it significantly impact acceptance chances, or is it just for people who need more time?

Applying under Early Decision 2 (ED2) can indeed have a few advantages. One of the main benefits is the potential boost in admission chances, even when controlling for applicant profile strength. Selective schools often have higher acceptance rates in their ED rounds as compared to Regular Decision (RD) because they value the demonstrated interest and commitment shown by ED applicants. Remember though, the increase in chances may vary greatly between schools.

ED2 can be particularly useful if you applied ED1 to another school and didn't get in— it gives you a chance to demonstrate strong interest in another school. Keep in mind, if accepted under ED2, you are expected to withdraw all your other applications and commit to the school, just as if you had applied ED1.

Additionally, hearing back from a school earlier (typically in February) can be a relief, reducing stress during the application process by shortening the period of uncertainty. However, it does require you making your top choice clear earlier than RD deadlines.

Just remember that ED2, like ED1, is a binding decision. It is crucial that if you're considering applying ED2, the school is your top choice and that you have evaluated the financial commitment by using the school's net price calculator. This ensures you're not committing to a school that might be financially unfeasible for you or your family. The benefit of applying ED2 should balance both your readiness to commit to a school and the potential increase in your chances of admission.