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This page doesn't even touch on the 'early-decision' problems. Early decision students can't turn down the offer, even if they are given no financial aid. Universities won't show any statistics on this matter, but students from lower an middle class families rarely apply early decision to top schools, because they know they can't afford it, and the university will have them by the balls, so to speak. Early-decision removes another level of competition, forcing students to not be able to decide. Of course, they say, if you don't want to apply early decision, then don't. But in reality, lots of students DO, and the classes fill up with them before the 'normal' applications are accepted/rejected. So early decision consistently takes spots away from lower income students and gives them to rich brats. And admitted early decision students have been shown to be slightly worse on average than their normal counterparts. Sorry I'm not citing facts and figures much. Some schools (I forgo...