financial aid for early applicants

Here is what Yale says about financial aid for early admitted applicants:

Q. If I am accepted to Yale early, when will I receive a financial aid package?

A. If you submitted all required financial aid materials to Yale with your Early Action application, you will receive an estimated financial aid package at the same time as you receive your offer of admission. This estimate will be updated and your final aid package confirmed in early April.

You know that some early application paths are binding: if you are accepted, you can either choose to enroll and give up application at other colleges OR deny the offer. In the first case, you’ll never get offers from other schools. It’s OK because you applied early to your top choice school, but it’s not OK because you also applied for financial aid. If you are accepted by several schools and you do care about costs, then you’ll probably choose the school you can afford or try to bargain with your top choice, showing them that their rivals offer you more generous packages. If you apply early, it’s impossible to compare and bargain. Besides, just as Yale says, you might be offered and have accepted an estimate of the financial package, but in April things might have changed and you might be offered a lower one.


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