Exiting an Early Decision agreement for financial reasons?

Hey guys, I'm concerned that if I get accepted into a college through Early Decision, but the financial aid package isn't enough, I'd be stuck. Can I get out of an Early Decision agreement if the financial aspect doesn't work out for me and my family?

Absolutely, financial considerations can absolutely be a legitimate reason for withdrawing from an Early Decision (ED) agreement. If you're accepted and the financial aid offered doesn't make attendance feasible, you can contact the admissions office to discuss the situation. It's important to make a strong case as to why the financial aid package is insufficient for your needs. Sometimes, the college may be able to reassess your aid package if you can provide additional information that wasn't initially considered. However, if after those discussions you still find that the cost of attendance would be prohibitive, colleges typically will release you from the ED agreement without penalty. It’s crucial that you communicate openly and as soon as possible with the admissions office. Keep in mind that your decision should be based on a clear financial gap; withdrawing for improved aid offers from other institutions might be frowned upon. Lastly, ensure you document all your communications for reference. Remember, the purpose of ED is to help students commit to their first-choice school, not to place an undue financial burden on them.