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So let's say I apply ED to the school I most want to go to. Let's further assume that I probably wouldn't get in RD, so applying ED is my one shot. I know you are allowed to break ED if financial aid is inadequete, but what if they meet my need, though primarily with loans? It would be hard for my family to deal with a lot of loan debt, especially because I want to go to grad school. Can you break an ED commitment if your family just can't deal with the loans, or is it just if they don't meet your need? Who determines whether they met your need?

Thanks

By Sybbie719 (Sybbie719) on Wednesday, September 22, 2004 - 07:38 am: Edit

The college determines what your need is based upon the financial information received from you and your parents. There can be a big discrepancy between what you and your parents feel they can afford and what the school believes you can afford.

You really need to do you homework before applying because you are correct in the college eyes they can meet your needs through loans. Yes there are schools such as NYU which are known for gapping and other schools which have a reputation of giving crappy financial aid, so think wisely.

While the college will allow you to opt out for financial reasons, most will not allow you to opt out for anything other than your affordable state university.

Applying ED is a tricky thing if you have questionable finances because you are not given the opportunity to compare offers. Even when you end up in the RD pool at other schools, you may find out after the fact that the best offer was from your ED school. How will it make you feel knowing that you got accepted and could not afford it and feel that you have no recourse? Getting in ED and not taking it can have more far reaching consequences which willn ot only put your guidance counselor in a bad position, but can impact those from your school which will apply after you are gone.

There is no shame in coming to the realiziation that you may not be able to afford your school in the ED round, infact it is pretty responsible. Get a realistic financial picture from your parents with regards to how much they are willing or can afford to pay because financially it is a family decision. If you need to compare offers, apply RD.

All the best

By Zachfax (Zachfax) on Friday, September 24, 2004 - 01:23 pm: Edit

That is totally crazy, you only live once, why should you have to limit your chances of getting into the best school you possibly can just because you can't afford it. I'm going to be applying to Carleton ED this year, and I doubt I would get in RD because i am a crappy test taker. but I am really not sure tho, if i will get in ED. After looking at how much the average award is for my parents income bracket, I figure the financial burden can't be THAT bad... Carleton is the one place i would absolutely love to go to and why should i just give up because I know my parents never went to college and they are poor. So my advice is do what you want, if you know what your first choice school is, and you're not sure if you will get in, GO FOR ED.

By Northstarmom (Northstarmom) on Friday, September 24, 2004 - 04:26 pm: Edit

Zach,
If your parents are poor and never went to college, that is a huge hook for many selective colleges including Ivies.

I think it's unwise for you to apply to Carlton ED. I don't think that ED will help you. You already will be getting major help by being 1st generation college/poor.

All that ED will do for you is prevent your comparing financial aid offers. Also, if your parents are poor and didn't go to college, there's probably a lot you don't know about college applications that students with well educated parents know.

It would be a shame to get an ED acceptance and then to realize that you could have gotten a better financial deal elsewhere or that there are other colleges that you like more.

IMO you have everything to gain and nothing to lose by not applying ED.

By Zachfax (Zachfax) on Friday, September 24, 2004 - 09:00 pm: Edit

HAH ok well thank you a lot, I sorta used reverse psychology to get a good straight answer from somebody. The idea of applying ED to carleton was turning around in my head but i think now that I will apply RD and just hope for the best. I don't have great scores (3.89 GPA, 27 ACT) and my parent aren't really POOR, they make probably about 36-40,000 total/year and we are a family of 5. We are definately lower middle class tho, and i know my parents won't be able to afford to pay a lot every year especially when my sister will also be going to college in a couple years. I really doubt I would get into any ivies... Right now I am going to apply to Carleton, Lawrence University, and University of Minnesota-twin cities. Do you have any possible suggestions for schools I should apply to?

By Northstarmom (Northstarmom) on Friday, September 24, 2004 - 09:33 pm: Edit

Zach,
"Reverse psychology" is not necessary and is likely simply to alienate people who otherwise would help you.

At elite colleges, students who come from families making $36-$40 k a year are considered poor. That's why Harvard and Princeton and some other schools (U Va.?) have special financial aid packages for such students. Students accepted to Harvard who come from families making $40 k or less are promised financial aid packages that contain no loans.

When your sister goes to college, her being in college will affect the amount of aid you get from colleges because when one gets financial aid, one reapplies each year, and the colleges take into account changes in one's financial circumstances.

Make sure that you apply to schools that say they are need blind. If not, you may get rejected because of your very high financial need.

Assuming that you live in Minn., I suggest also looking for other Minn. public universities to apply to, particularly some in which you are at the top end of their applicant pool. That would raise your chances of getting excellent financial aid plus merit aid.

Often at public institutions, the best aid packages go to the in-state students with the best grades and scores. Many public institutions also do NOT guarantee aid up to one's level of financial need, and they also can be very heavy on expecting students to take out major loans.

By Zachfax (Zachfax) on Friday, September 24, 2004 - 10:13 pm: Edit

Actually I live in Wisconsin. A few of my friends go to Madison and they are paying quite a bit... They didn't get a lot of aid, and they don't even sound like they like it at all down there so i decided I would apply to UM-minneapolis because i also have a few friends that go THERE and they absolutely love it. I've been to both madison and minneapolis and there is no question in my mind that minneapolis is a way nicer looking town than madison.