I applied Early Decision (ED) to Johns Hopkins and my twin sister applied ED to Duke. Our parents are getting nervous as the notification dates approach because of the cost. We have told them repeatedly that if the financial aid package doesn't meet our needs we can get out of the ED agreement, but they're stressed. Can you advise how hard it is to get out of an ED agreement for financial reasons? Would we need to prove the reasons why the financial package isn't good enough? How does this work, and do colleges ever refuse to let people out of the agreement for financial reasons?

Keep reading Show less