What are the differences between regular and early decision?

I'm trying to make sense of whether I should apply to a few schools using regular decision or early decision. What are the main differences between these two, and how does each option impact the admissions process and commitment levels?

There are several key differences between Regular Decision (RD) and Early Decision (ED) when applying to colleges.

Early Decision is a binding form of application, which means if you're admitted, you're expected to accept the offer and enroll, barring significant circumstances such as inadequate financial aid. It's best used when you have a clear first-choice school. Deadlines are generally in the fall (November 1 or 15 usually), and you are typically notified in mid-December.

Regular Decision, on the other hand, is non-binding. You can apply to as many schools as you want, and if you're accepted, you have until May 1st (commonly known as National College Decision Day) to make your decision. Deadlines for this type of application tend to be later, usually around January 1 or 15.

In terms of impacting the admissions process, applying ED can demonstrate strong interest in a school and might increase your probability of getting admitted, especially for competitive schools, since it shows commitment. On average, applying ED can result in a 1.6x, or 60%, increase in your odds of admission at highly selective schools. This effect is less pronounced at less selective schools, and this is just average data—the specific ED boost could vary by school.

RD is more flexible and allows you to compare multiple offers and financial aid packages, which is particularly beneficial if cost is a significant factor in your decision. In contrast, with ED, since it is binding, you might not be able to compare financial aid offers from different colleges, although you can still back out if the aid package from your ED school is unaffordable.

Before making a decision, weigh options and consider factors like how ready your application is, how sure you are of your first-choice school, your financial situation, and whether you might benefit from another semester of grades or activities to strengthen your application.