More on early decision A common denominator is that early decision is a binding agreement between you and the college. If the college accepts you, you pay a deposit within a short period of time and sign an agreement stating you will not apply to other colleges. To keep students from backing out, some colleges mandate that applicants' high school counselors cannot send transcripts to other institutions. In many ways, early decision is a win-win for both students and colleges. Students can relax and enjoy their senior year of high school without waiting to see if they've been accepted.
Colleges know early in the year who is enrolled.
But as competition to get into college has increased, students and colleges have started to look for angles, observes Fryer, so that now early decision comes in all flavors. Some colleges have early decision versions one and two. Others have stepped deadlines or rolling deadlines. Some are totally restrictive, others have degrees of binding. Even within one university there might be variations.