A question we get all the time is, are we going to get less money if we apply early decision? Now, before we answer that, let’s get clear on what that actually means.
Early Decision versus Early Action
Early decision means we have to sign a contract that says, if we get accepted into that school (we can only apply early decision to one school), we’re going to attend that college.
Early action, we can apply to as many schools as we’d like, and there’s no obligation to attend any of those schools we’ve selected now.
Back to Financial Aid
The question is, are we going to get less money? If we are telling that college ahead of time that will come to their school if we get in, but before we find out exactly how much it’s going to cost, the answer is, it depends on the college.
Generally speaking, you can expect to get an award that’s pretty close to the package you would have received regardless of how you applied. There are certainly cases where we have seen folks get a little less at some colleges. They’ll nickel and dime you a little bit if you apply early decision, because they know they have some leverage, okay?