Does ED affect your opportunity for Merit aid?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
fish35
Posts: 25
Joined: Thu May 06, 2010 9:29 pm

Does ED affect your opportunity for Merit aid?

Postby fish35 » Sat Jun 05, 2010 4:13 pm

If you apply for ED and are accepted do you have the same opportunities to receive merit aid as others who applied regularly?

Also, do most ED applications require you to accept the admissions? (Is it binding?)

Scurredsitless1
Posts: 284
Joined: Tue Jun 09, 2009 12:47 pm

Re: Does ED affect your opportunity for Merit aid?

Postby Scurredsitless1 » Sat Jun 05, 2010 4:17 pm

ED is usually binding. If you apply ED, you must attend that school, or not attend law school. Schools claim the applying ED does not affect merit aid. I don't believe them. It certainly affects your ability to negotiate aid, which can be very effective.

sumus romani
Posts: 565
Joined: Fri Jan 15, 2010 6:04 pm

Re: Does ED affect your opportunity for Merit aid?

Postby sumus romani » Sat Jun 05, 2010 4:20 pm

Many schools say that applying ED does not affect one's opportunity for merit aid. But that is hard to believe, since they have no motive whatsoever to give any aid of any sort to the ED'ers. But you'll only hear anecdotal evidence on this. I haven't seen any surveys. You might want to check out lawschoolnumbers to look into it further.

User avatar
Bildungsroman
Posts: 5548
Joined: Sun Apr 11, 2010 2:42 pm

Re: Does ED affect your opportunity for Merit aid?

Postby Bildungsroman » Sat Jun 05, 2010 4:21 pm

fish35 wrote:If you apply for ED and are accepted do you have the same opportunities to receive merit aid as others who applied regularly?

Also, do most ED applications require you to accept the admissions? (Is it binding?)


Almost all ED programs are binding. Cornell has a non-binding "early action" program, and Boston College does "Early Notification", but non-binding early action is rare. If you are accepted under binding ED you have to immediately withdraw all other applications, including acceptances, waitlists, and pending.

Also, merit aid for ED acceptances is less common, because the school already has you and doesn't need to entice you to attend.

sumus romani
Posts: 565
Joined: Fri Jan 15, 2010 6:04 pm

Re: Does ED affect your opportunity for Merit aid?

Postby sumus romani » Sat Jun 05, 2010 4:23 pm

fish35 wrote:If you apply for ED and are accepted do you have the same opportunities to receive merit aid as others who applied regularly?

Also, do most ED applications require you to accept the admissions? (Is it binding?)



You also have to keep in mind that those who apply ED are almost never above both of the school's target medians, which will often suggest that those applicants lack merit compared to other applicants.

sluguy14
Posts: 122
Joined: Sat Dec 26, 2009 9:47 pm

Re: Does ED affect your opportunity for Merit aid?

Postby sluguy14 » Sat Jun 05, 2010 4:23 pm

Well, what reason does the school have for providing you with merit aid? You're already locked into the contract. And while extra cash would surely make you happy, their responsibility is to the school, not to you. So they'll take that merit aid and use it to attract other potential (non-ED) candidates.

In most situations, ED only makes sense when you have borderline numbers and you really, really want to attend that school.

thatsnotmyname
Posts: 256
Joined: Sat Jul 11, 2009 1:31 am

Re: Does ED affect your opportunity for Merit aid?

Postby thatsnotmyname » Sat Jun 05, 2010 4:41 pm

Yes. It reduces your odds of receiving merit aid.

Though it seems that Columbia and Penn will still give need-based aid to ED applicants that have low numbers... this is based off anecdotes on LSN and on these boards.

User avatar
im_blue
Posts: 3276
Joined: Sun Apr 12, 2009 3:53 am

Re: Does ED affect your opportunity for Merit aid?

Postby im_blue » Sat Jun 05, 2010 7:45 pm

This shouldn't matter since ED is for borderline applicants with no shot at money anyway.

fish35
Posts: 25
Joined: Thu May 06, 2010 9:29 pm

Re: Does ED affect your opportunity for Merit aid?

Postby fish35 » Sat Jun 05, 2010 11:21 pm

Thank you everyone for the responses.

So people who have numbers in or above the median, is it best to just apply early but without early decision?

User avatar
billyez
Posts: 868
Joined: Sun Jun 14, 2009 6:19 pm

Re: Does ED affect your opportunity for Merit aid?

Postby billyez » Sun Jun 06, 2010 3:39 am

It would strike me as silly for anyone to apply ED to someplace that they have numbers at or above median, yes. You've hit the general consensus. In my cycle I applied ED to two schools (rejected at one before I applied for the other) that I was below the numbers for and wouldn't have dreamed about applying ED to a school that I had a good chance of getting into anyway - unless I really wanted to go to that school, and even then I would be ambivalent.

In short, I'm with im_blue on this.




Return to “Financial Aid”

Who is online

Users browsing this forum: No registered users and 1 guest