How does Early Action vs Regular Decision affect scholarships?

Does applying Early Action versus Regular Decision have any impact on the likelihood of receiving scholarships? I'm considering this for my applications and want to make sure I'm maximizing my financial aid opportunities.

When it comes to financial aid and scholarships, there usually isn't a significant difference between applying Early Action (EA) and Regular Decision (RD). Most universities will commit to meeting a student's full demonstrated need, regardless of when they apply. Therefore, your chances of receiving need-based financial aid won't be affected by the timing of your application.

However, for merit-based scholarships, it can sometimes be beneficial to apply early. Some colleges and universities have priority deadlines for merit-based aid, and those deadlines often coincide with their EA or Early Decision (ED) deadlines. By applying EA, you would not only get your application in by the priority deadline but also demonstrate keen interest in the school, which could potentially impact your chances of receiving a merit scholarship.

Plus, applying EA might give you more time to explore external scholarships. When you apply EA, you'll likely have your acceptances earlier, allowing you to focus on applying for more local, state, and national scholarships.

But keep in mind that each college has its own policies. Before deciding on EA vs RD, research the scholarship and financial aid policies of the colleges you're interested in, and consider reaching out to their financial aid offices for further clarification.

Take Vanderbilt University, for instance. It awards three signature scholarships: the Ingram Scholars Program, Cornelius Vanderbilt Scholarship, and Chancellor's Scholarship. You must apply by their priority deadline (same as their ED deadline) to be considered for those scholarships, even if you apply RD. This kind of policy is worth investigating for each school on your list.

In short, there's no one-size-fits-all advice about EA vs RD and scholarships, so doing your homework for each school is crucial. Good luck!