Does applying Early Decision affect merit aid?

Hi, I'm planning on applying Early Decision to my dream school, but I'm also hoping to receive merit aid to help pay for my college education. Will applying Early Decision have any impact on my chances of getting merit aid? Are colleges inclined to give more or less aid based on applying early?

Hey there! I understand your concern about the financial aspect of planning for college. Fortunately, applying Early Decision (ED), shouldn't negatively affect your merit aid opportunities, as merit aid is based on your academic achievements, not the applications cycle you applied in.

Colleges typically set aside a certain budget for merit scholarships, which are awarded to students based on the overall strength of their application, which factors in grades, test scores, extracurriculars, etc . However, since you're committed to attending if accepted under ED, it's true that there's less incentive for the college to entice you with merit aid.

But don't let that discourage you! If your dream school is known for giving merit aid and your credentials are strong, you still have a fair shot at receiving it. Plus, while ED is a binding agreement, one of the few ways you can break that agreement is if the college's financial aid package is insufficient for your family's needs.

Check the college's policy on merit aid on their website, or contact the admissions office directly to get the most accurate info. Good luck!