What's the difference between Early Decision 2 and Early Decision 1?

I'm still figuring out my college application plan and I'm curious about the differences between Early Decision 2 and Early Decision 1. Are there any major pros or cons to consider with each choice?

Early Decision 1 (ED1) and Early Decision 2 (ED2) both operate on the principle of a binding agreement. If you apply under either of these plans and are accepted, you commit to attending that school and must withdraw all other college applications. It's important to note that you can only apply to one school ED (either ED1 or ED2, not both).

The primary difference relates to the timeline of application submission and decision notification. ED1 deadlines typically fall in November, with decision notifications in mid-December, whereas ED2 deadlines are usually in January, with decisions announced in February.

There are several factors to consider when deciding which option is right for you:

1. Application readiness: If your application is strong by November, you could take advantage of ED1. If you'd like more time to strengthen your application, by improving your grades in the first semester of senior year or adding other achievements, ED2 might be more appropriate.

2. Financial Aid: ED implies you're ready to commit to the school regardless of the financial aid package offered. It could, however, limit your ability to compare financial aid packages between schools. If financial aid is a significant factor, applying Regular Decision or to schools with non-binding Early Action programs could be more beneficial.

3. Early Commitment: An advantage of ED1 is that if you're accepted, your college process concludes early, alleviating stress. With ED2, you have more time to ensure that the school is absolutely your first choice.

4. Admissions advantage: Some data suggest that ED plans, due to their binding nature, might offer an edge in the admissions process over Regular Decision, as these plans can potentially improve the school's 'yield rate' (the percentage of admitted students who enroll).

5. ED2 as a 'Second Chance': ED2 is often considered a 'second chance' at early decision. If you applied to one school ED1 and were not accepted, you could apply to another school ED2.

In short, both ED1 and ED2 are binding but operate on different timelines. It's crucial to understand these implications and decide which plan aligns better with your readiness, comfort with early commitment, and financial considerations.