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Talk to me about Early Decision

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Pros and cons? What happens if you apply ED and are rejected/waitlisted? Do other schools know/care about such a happenstance? If you are acccepted ED does that mean you don't even have to apply to other schools? How does all this work? Is it typically the stronger or weaker students who do this, or just the ones who want the school the most? The school my daughter is considering going ED for has a deadline of 11/15. We think she'd got an excellent chance of admission under any circumstances, and I've been led to believe that an ED application would improve her FA package. But is there a downside I'm not seeing? Love to hear ED expeiences, pro and con. Thanks!

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