Editing Early decision (section)

== Impact on financial aid ==
When admitted as an early decision applicant, with no other acceptances in hand, a student's bargaining position is weaker because the student cannot compare offers from different colleges.<ref name="tws2ZB42" /><ref name="tws2ZG313">{{cite news |author=Kim Clark |date=December 27, 2010 |title=6 Kinds of Students Shouldn't Apply to College Early: Late bloomers and those who need financial aid benefit from regular applications. |work=US News |url=https://www.usnews.com/education/best-colleges/applying/articles/2010/12/27/6-kinds-of-students-shouldnt-apply-to-college-early |accessdate=July 7, 2012}}</ref><ref name="tws2ZB47" /><ref name="tws2ZG114">{{cite news |author=Kim Clark |date=December 15, 2010 |title=Early Applicants More Likely to Gain College Admission: Higher admission rate of early college applicants fuels controversy |work=US News |url=https://www.usnews.com/education/best-colleges/right-school/timeline/articles/2010/12/15/early-applicants-more-likely-to-gain-college-admission |accessdate=July 7, 2012}}</ref><ref name="tws2ZB45">{{cite news |date=July 7, 2012 |title=The Financial Aid Effect on Early Decision and Early Application |work=Peterson's College Search |url=http://www.petersons.com/college-search/early-decision-financial-aid.aspx |accessdate=July 7, 2012}}</ref><ref name="tws2ZB46">{{cite news |date=July 7, 2012 |title=How Early Decision Can Affect Financial Aid |work=CollegeMadeSimple.com |url=http://www.collegemadesimple.com/how-early-decision-can-affect-financial-aid/ |accessdate=July 7, 2012 |archive-date=January 4, 2012 |archive-url=https://web.archive.org/web/20120104070109/http://www.collegemadesimple.com/how-early-decision-can-affect-financial-aid/ |url-status=dead }}</ref><ref name="twsNYT8859" /> Since the applicant is declaring an intention to attend if accepted, the school can "pinpoint the smallest amount of financial aid it will take for the student to attend."<ref name="tws2ZB41" /> The applicant who is sensitive to financial aid may suffer from the likelihood of the aid amount being less than the expected amount.<ref name="twsL16">{{cite news |author=Scott Jaschik |date=February 25, 2011 |title=Elite universities surrender to early admissions |newspaper=USA Today |url=https://www.usatoday.com/news/education/2011-02-25-early-admissions_N.htm |accessdate=December 12, 2011}}</ref><ref name="tws2ZG111">{{cite news |author=Gail MarksJarvis |date=September 20, 2010 |title=Applying to college? 'Early decision' could cost more |work=Chicago Tribune: Business |url=https://www.chicagotribune.com/2010/09/20/applying-to-college-early-decision-could-cost-more/ |access-date=July 7, 2012}}</ref><ref name="tws2ZG313" /><ref name="tws2ZG112" /> Several reports confirm that early decision applicants tend to come from wealthier families.<ref name="tws2ZB43">{{cite web |author=Sarah Winkler |date=July 7, 2012 |title=How Early Decision Affects Financial Aid |url=http://money.howstuffworks.com/personal-finance/college-planning/financial-aid/early-decision-financial-aid1.htm |work=HowStuffWorks.com |accessdate=July 7, 2012}}</ref><ref name="twsNYT49104">Frank Bruni, December 21, 2016, The New York Times, [https://www.nytimes.com/2016/12/21/opinion/the-plague-of-early-decision.html?emc=edit_ty_20161221&nl=opinion-today&nlid=76434108&te=1&_r=0 The Plague of 'Early Decision'], Retrieved December 21, 2016, "...It significantly disadvantages students from low-income and middle-income families, who are ..."</ref> 

A contrasting view is that by applying earlier in the year, the accepted ED students have "first crack at the money,"<ref name="tws2ZB48" /><ref name="tws2ZB41" /><ref name="tws2ZB43" /> particularly at competitive schools without large endowments. In any case, if a highly desirable ED admittee may withdraw because of financial concerns, the college "may pull out all the stops" to prevent this,<ref name="tws2ZB46" /> and that the possibility of backing out for financial reasons gives an applicant some form of negotiating leverage.<ref name="tws2ZB48" /> Universities with very large endowments may be unique in their ability to provide aid equally generously to students regardless of their application plan.<ref name="tws2ZG311">{{cite news |author=Mark Kantrowitz |date=April 11, 2009 |title=Guidance Office: Answers About Financial Aid, Part 6 |work=The New York Times |url=http://thechoice.blogs.nytimes.com/2009/04/11/guidance-office-answers-about-financial-aid-part-6/ |accessdate=July 7, 2012}}</ref>