Hello! As a high school junior starting to think about college applications, I'm concerned about how applying Early Decision might impact my financial aid package. Will applying ED limit my chances of receiving sufficient financial aid? Does anyone have experience with this? Thank you in advance!
Hello! It's great that you're being proactive about understanding the college application process. As for your question, applying Early Decision (ED) can potentially have an impact on your financial aid package, but only because you won't be able to compare financial aid offers and use other offers as leverage in negotiating.
When you apply ED, you agree to attend that college if accepted and if the financial aid package offered is satisfactory. As a result, you will not have other college acceptances and financial aid packages to choose from.
However, applying ED should not impact the amount of aid you get from your ED school. ED and RD accepted students should get the same packages based on their individual circumstances.
Anecdotally, my own child applied ED and received a very generous financial aid package. I suggest researching the specific financial aid policies of the schools you're interested in and reaching out to their financial aid offices if you have any concerns. Good luck!
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