Harvard Early Applications Take a Dive

[MyMission]

3. You are correct!

I worked in academic administration, admissions and financial aid for many years.

Early decision especially appeals to students who desperately want to attend a specific school. They won't get the same offer of financial aid, less than if they'd applied regular admission. I'd often counsel students to do 2 years at a local or state college and then apply to transfer to their dream school. 2 years private tuition is costly enough.

Please note: for both early and regular admission
You can and should always request additional aid once the financial aid package has been offered. Ask if they can do any better.
Counselors will reevaluate and may be able to add a bit more to the package.