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This was the heading of an article in smartmoney.com today. I think the article was pretty accurate in describing the early decision financial aid process. RIT does not award more or less grants or scholarships based on applying early decision. Also, federal aid programs such as Federal Loans, Federal Pell Grant, Federal ACG and SMART Grants are available to eligible students, provided an application is processed before their last day of classes.
Students who are interested in applying early decision at RIT should complete an Admissions Application prior to December 1st and indicate on the application that they are applying early decision. We will mail a letter to these early decision applicants directing them to an on-line Early Decision Financial Aid Application.
Admissions notifications will be sent prior to January 15th and an early financial aid award estimate will be sent mid-January. The goal is to provide the financial information in time to meet the admissions deposit deadline of February 15th.
When students and families ask me whether they should apply early decision I’ll advise that if RIT is the only college the student is considering then go ahead. However, if the student is considering more than one college, then I recommend applying regular decision. The regular decision student has the advantage of comparing financial aid awards and costs at several colleges. The amount of financial aid awarded by RIT is not influenced by applying early decision.