Early Decision 2 vs Early Action: What's better?

I'm debating between applying Early Decision 2 or Early Action to my top-choice schools. I know they're different, but what are the main advantages of one over the other? Any advice from those who've been through this?

The main difference between Early Decision 2 (ED2) and Early Action (EA) comes down to commitment and timing.

ED2, much like Early Decision 1 (ED1), is a binding decision. This means that if you are accepted, you are committed to attending that school, and must withdraw all other applications. Apply ED2 only if you are very certain about your first-choice school. One advantage of ED2 is that it can provide a boost to your chances of admission. On average, applying ED results in a roughly 1.6x increase in your odds of admission at many highly selective schools. However, this will vary by school and isn't the case for all colleges.

On the other hand, EA is a non-binding agreement. You can apply EA to multiple colleges and are under no obligation to attend if accepted. This offers you more flexibility and more time to make your final college decision. It's especially beneficial if you want to compare financial aid offers from different schools. Though EA can also give a smaller boost to your admission chances because you're showing interest early, it's not often as significant a boost as ED.

One more thing to consider is the timeline each option provides. ED2 decisions usually come out in February, whereas EA decisions are often released in mid-December. If you apply EA, you'll know where you stand with at least one school earlier.

Remember though, every student's situation is unique. The best choice depends on your individual circumstances - your college preferences, financial situation, readiness of your application in the fall, and many other factors. These are important points to discuss with your family, school counselor, or a trusted adviser before making a decision.