Clarifying the difference: early decision vs. regular decision?

I'm still trying to figure out if I should go for early or regular decision. Could someone explain the main differences between the two application processes?

Sure, I'd be glad to provide some clarity on Early Decision (ED) and Regular Decision (RD).

Early Decision is an application process that involves a binding agreement. This means that if a college admits you in their ED round, you are obligated to attend that school and must withdraw all other college applications. Because of the binding aspect, you should only apply ED to a college if it is your absolute top choice and, importantly, if you have considered your financial situation carefully. The downside is that while you'll receive an admission decision early (usually December), you won't be able to compare financial aid offers from other schools before you have to commit.

On the other hand, Regular Decision is non-binding. You can apply to multiple institutions, and if admitted, you have until May 1 to decide which school to attend. This course of action gives you more time to polish your application, gather additional recommendations, and add any new achievements. Additionally, this route allows you to compare financial aid offers from all the colleges that accept you before making a decision.

Both processes have their pros and cons, so it's essential to think critically about which option best complements your college plan. Factors to consider might include how certain you are of your top-choice school, your financial situation, and whether or not you feel ready to submit your application early in the fall.