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— Tanya Caldwell If one is admitted as an early decision student, can the final financial offer that comes this month, after the preliminary estimate we received in December, be appealed or changed by a significant amount?
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"Without early decision, students could have to fill out six or eight applications by January.
Under early decision, students and their families do not have the opportunity to compare financial aid awards.
On the other hand, early decision students tend to be wealthier and so qualify for less need-based grant funding.
In fact, they may receive more aid because the college has a larger pool of money available when packaging financial aid awards to early decision students.
But there is no credible evidence that early decision students are offered less aid than they would have received as part of the regular application pool.
(Early decision students tend to be wealthier than regular admission students, yielding lower average grants. But this doesn't mean that the college is discriminating against the early decision applicants).
Like early decision, early action requires students to submit their applications relatively early in their senior year but, unlike early decision, students who are admitted via early action may wait to compare financial aid awards from different colleges and decide not to enroll.
Regarding finances and financial aid, schools will offer admitted early decision students tentative need-based financial aid packages shortly after the student is notified of his or her admission and before the enrollment deposit is due.
Even excluding special cases of early decision students that colleges gave clear preference to, like athletic recruits and sons and daughters of alumni, the advantage to applying early was still significant.
Ironically, colleges seeking to enhance their reputation for "selectivity" (read "exclusivity") will also benefit from the end of early decision: students whom an early acceptance would otherwise have removed from the general applicant pool will instead submit the dozen or so applications that are now the norm, providing colleges with more applicants to reject.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com