Purpose of regular decision in college apps?

What exactly does regular decision do in the context of college applications? I feel like I understand early decision a bit more, but I'm not quite sure what the aim is with regular decision.

Regular Decision is the standard process by which students apply to college. It's a non-binding agreement, meaning that students have until May 1st (known as "National College Decision Day") to choose the college they want to attend. This allows students plenty of time to receive all of their college acceptance letters, compare financial aid packages, and make a well-informed choice about where to enroll.

In contrast, Early Decision is a binding agreement, so if you're accepted under Early Decision, you're expected to enroll in that college unless the financial aid offer makes it infeasible to attend. The benefit of Early Decision is that students can often boost their chances of getting in by showing the college that it's their first choice. However, an Early Decision acceptance prevents you from comparing financial aid offers from other colleges.

Regular Decision allows you to apply to multiple colleges and have the option to select among them once you hear back. The deadlines are later than Early Decision, typically in January or February. This later deadline provides more time to put together your application, includes first-semester senior year grades, and is more flexible in terms of college choice when you eventually make your decision.

So in summary, the aim of Regular Decision is to keep your options open. It's a good choice if you're not 100% sure about your first-choice school, or if you want to compare several schools before making a decision.