One of These Things Is Not Like the Other: Nuances of Early Decision Agreements
Early Decision (ED) can be a strategic pathway for students who have thoroughly researched their college options and determined that a specific institution is their clear top college choice. It's a way to express strong commitment, potentially increasing the chances of admission. Its key cornerstone is the Early Agreement, a document the student, parent, and school-based counselor will sign as part of the student’s application process. So what does the agreement actually say?
A Peek at What You're Signing and Why It Matters
Here are excerpts from two distinct Early Decision agreements as they appeared in Common App 2024-2025:
Emory University:
If you are accepted under an Early Decision plan, you must promptly withdraw the applications submitted to other colleges and universities and make no additional applications to any other university in any country. If you are an Early Decision candidate and are seeking financial aid, you do not need to withdraw other applications until after you have received a financial aid notification from the admitting Early Decision institution.
Yes, I have read and understand my rights and responsibilities under the Early Decision Process. I wish to be considered as an Early Decision candidate at Emory University. I also understand that with an Early Decision offer of admissions, this institution may share my name and my early commitment with other institutions.
(source: Common Application 2024-2025)
Elon University:
"As an applicant to Elon University under the Early Decision plan, I understand and agree to the following:
1) Binding Commitment: I am submitting my application for Early Decision to Elon University. I understand that this is a binding agreement and, if admitted, I will withdraw all other college applications and enroll at Elon.
2) Notification Date: I understand that I will be notified of the admission decision by December 1, 2024. If admitted, I will submit a non-refundable enrollment deposit by January 10, 2025.
3) Withdrawal of Other Applications: Upon acceptance to Elon University under the Early Decision plan, I will immediately withdraw all applications to other colleges and universities and will not submit any additional applications.
4) Financial Aid: I understand that, if I am applying for financial aid, I should complete and submit the FAFSA (Free Application for Federal Student Aid) and CSS Profile as soon as possible. I acknowledge that I will receive a financial aid award from Elon University once all forms have been evaluated which will be after the time of my admission decision.
5) Authenticity of Information: I certify that all information submitted in my application, including this Early Decision agreement, is complete, accurate, and my own work. In doing so, I am adhering to the Elon University Honor Code.
Yes, I have read and understand my responsibilities under the Early Decision Process. I wish to be considered as an Early Decision candidate at Elon University. I also understand that with an Early Decision offer of admission, this institution may share my name and my Early Agreement with other institutions.”
(source: Common Application 2024-2025)
What’s similar?
With an offer of admission, the applicant agrees to withdraw other applications, not to submit additional applications, and to enroll in the Early Decision institution. Additionally, the Early Decision institution may share the student’s name and Early Agreement with other institutions. These stipulations are commonly found in Early Agreements.
What’s different?
The Timing of Financial Aid & Withdrawal of Other Applications
Emory permits ED applicants to hold off on withdrawing other applications and paying the enrollment deposit until after they receive their financial aid package, whereas Elon states that applicants will not have financial aid information at the time of acceptance and they must “immediately withdraw” all other applications, potentially without knowing how much Elon will cost their family (depending on how long it takes for their financial aid package to arrive).
Enrollment Deposit Deadline & Amount
Nonrefundable enrollment deposits can range from $400 to $1,500 or more depending on the institution. The deadline to deposit, and where that falls within the delivery of the financial aid package also varies across institutions.
Where to Find the Early Decision Agreement
The easiest way to check and compare the key elements of Early Decision agreements is in Common App. College admissions pages typically provide additional details such as Early Decision benefits, clarification, FAQs, and contact information for questions. After Early Decision applicants submit the Common App, they are provided with an (often longer, more detailed) Early Decision Agreement document to be signed by the student, parent, and the school-based counselor. Here are two examples used in the 2024-2025 cycle at the College of Wooster and Wake Forest University.
My point isn’t to pick on any college, or to say one is better than another, but to highlight material differences in Early Decision agreements for students and families to consider as they evaluate their options.
Given the substantial sticker price of a college education, families may be understandably reluctant to commit without having a good understanding of projected costs for their family - making the timing of the financial aid package a key factor in Early Decision consideration.
After all, what other major purchase decision do we commit to without knowing the actual price?
Estimating Your Costs Ahead of Time
There are many factors to consider before committing to Early Decision, but the financial piece is certainly key. These options can help you develop an estimate of a specific college’s likely costs for your family.
Net Price Calculators
Use the college’s Net Price Calculator (NPC) to obtain an estimate of your family’s costs. Search “Net Price Calculator + [College Name]” and keep these tips in mind:
Garbage in, garbage out: Answer all NPC questions accurately for the best estimate.
No pain, no gain: The basic requirements for NPCs are minimal and vary greatly by school. In general, the more NPC datapoints used in the calculation, the more accurate the outcome. A more in-depth NPC may be more tedious to complete, but those extra steps can provide richer and more accurate output.
There may be some merit to it: Some colleges include merit aid estimates in their NPC calculations. Those that do include questions about the student’s academic profile such as GPA, class rank, and standardized test scores. Bonus: you can even do scenario planning by re-running it under different conditions - for example, with/without test scores or with a target test score/GPA.
Save everything: Screenshot your results and save them for reference as you research colleges and develop your application plans. They may be a useful point of comparison once the actual financial aid package arrives, whether you end up applying ED or not.
Personally Identifiable Information (PII) Optional: NPCs will ask for it, but sharing your personal contact information is purely optional. In most cases, I advise students to opt out, especially if they are entering academic information we are not ready to share.
Financial Aid Research
Carefully review the financial aid process and timelines on the college’s website. Additional options:
Reach out to the financial aid office (FAO) if you still have questions about your NPC results and financial aid timing. FAOs are busiest once the FAFSA opens up, so plan ahead.
Use reputable resources such as College Navigator, Big Future, and Common Data Set Section H for insights on how specific colleges disseminate institutional need-based and merit aid. Search “Common Data Set + [College Name]”.
Some FAOs are able to be very forthcoming and transparent to help students and families understand costs and financial aid packaging. For example, a few will do a financial aid “pre-read” upon request. The College of Wooster offers an Early Aid Estimator that goes above and beyond an NPC, involving an actual human review during the summer of the rising senior year.
With thorough research and thoughtful consideration, Early Decision can be a win-win for students and colleges - even (sometimes, especially) for families with financial need. Gaining a clear understanding of the Early Agreement and financial aid timeline will help determine whether it’s the right choice for your family.
Disclaimer: Like most things in college admissions, Early Decision Agreements can change from year-to-year. Always review the agreement specific to the student’s admissions cycle for the up-to-date information, reach out to admissions & the financial aid office with questions, and seek independent professional advice when needed.
