What are consequences of rejecting an early decision offer?

If I decide to reject an early decision offer after being accepted, what are the possible consequences? Does it impact my chances if I apply to other colleges or will it have any effect on my high school's relationship with that college?

Rejecting an Early Decision (ED) offer is a serious matter because ED is a binding commitment. If you're accepted, you're expected to enroll unless the financial aid award is significantly inadequate. We always recommend applicants thoroughly evaluate their decision, including financial feasibility before applying ED.

If you find the financial aid package insufficient for your needs, you are allowed to reject the offer. However, you should firstly try for financial aid negotiation or appeal with the university. They can reconsider your financial situation and potentially offer more aid. If the renegotiated aid still isn't enough, then you can decline the offer.

In terms of applying to other colleges, there usually aren’t direct consequences. That is, other colleges won't necessarily know that you backed out of an ED agreement. However, not following through with an ED commitment is considered unethical.

The most significant consequence may be for future applicants from your high school. If a school sees a pattern of students from a certain high school consistently breaking ED agreements, that school may view future applications from that high school more skeptically.

However, remember that each case is unique. If there's a drastic change in circumstances between when you applied ED and when you received your decision (for example, a sudden loss of income, unexpected illness, etc.) that makes it unreasonable for you to attend the school, communicate this with the school and your college counselor to determine next steps. But if there's no significant reason, it's generally expected to honor the ED agreement.

It's crucial to fully understand the commitment you're making when applying ED. It should only be used for a school that is indisputably your top choice and within your means financially, as inferred by the school's net price calculator. Doing your due diligence beforehand will prevent potential issues down the line.