When it comes to financial aid, all situations are different. There is no formula to perfectly predict what you’ll get, because a common misconception is that financial aid is the same from all schools. It isn’t. Factors that play into financial aid distribution are Early Decision, private versus public universities and school ranking.
Early Decision has always been a way for colleges to increase their student yield. When students apply early, they show their commitment to a school and a school can be sure that they will attend if accepted. As noted in our previous blogs, recent test optional policies have also increased the number of applications. However, even though this option seems uniquely beneficial on both sides, colleges with Early Decision programs are not necessarily motivated to communicate that if the aid package doesn’t suit a family, they can disengage from the binding agreement.