Choosing Between Early or Regular Decision

I'm having a hard time deciding whether to apply early or regular decision to colleges. How does applying early impact your chances and what are the financial aid implications? Any advice or personal experiences would be super helpful!

It sounds like you're weighing some important considerations when it comes to early versus regular decision applications. One thing to keep in mind: applying early can boost your chances of admission. On average, applying Early Decision (ED) can result in a 1.6x increase in your chances of admission at highly selective schools. Early Action (EA), though less beneficial than ED, can still give you a slight advantage. However, this varies by school and the benefit becomes less pronounced the less selective the school is.

But, applying early isn't always the right strategy for every student. If you feel you can significantly improve your application by the regular decision deadline—like boosting your GPA first semester senior year or rounding out an extracurricular project—then waiting might be a good idea.

Financial aid can also factor into this decision. The most important step here is to utilize each school’s net price calculator ahead of applying ED. This tool will give you an estimate of what you would pay if you attended, and can help ensure that the school is affordable for you and your family. If the estimated price is unaffordable, it’s probably better to apply Regular Decision or Early Action (if the school offers it). Remember, if your financial aid package from an Early Decision school is inadequate, you can back out of the ED agreement, but this should be an avenue of last resort.

Lastly, keep in mind that if you apply Early Decision, it's binding, meaning if you're accepted, you're committed to attending that school, assuming the financial aid package is sufficient. Early Action, on the other hand, is nonbinding—you can apply early, get your decision early, but you're not obliged to attend if you get in.

Overall, deciding between early and regular decision depends heavily on your individual circumstances and how ready you feel with your application.