I'm sure I want to go to JHU, but I'm sort of worried about the financial aid package I could receive (I'm hoping for grants/scholarships, not loans).
If I'm worried about such things, should I apply RD?
It is important to note that as an ED applicant you will be eligible to apply for all types of need-based aid offered at Hopkins. By applying ED you will not be at a disadvantage for financial assistance.
All applicants accepted ED who applied for financial aid will receive an estimated aid offer with their acceptance. A final aid offer will follow in the spring after you submit the additional required documents (FAFSA, current taxes, etc.). There is a chance that the final offer will differ from the estimated award dependent on how correct one's estimates were when they completed their financial aid paperwork during the ED process. If we are unable to offer you adequate need-based financial aid, you may be released from the Early Decision contract. Because no additional need-based aid would be available to you as a Regular Decision (RD) candidate, your application would also be removed from consideration altogether. The Early Decision binding contract holds in all other cases.
As far as merit-based awards, all such awards are released when Regular Decision notifications are released. ED admits will be eligible for such awards but will not learn of being offered a merit-based scholarship until the end of March. Therefore a student will have had to commit to Hopkins before learning of such merit-based awards.
Finally, do note we do not encourage a student to apply Early Decision if financial aid is a serious concern or if one is relying on receiving a merit-based scholarship to enroll. In such cases, we recommend waiting for Regular Decision so that you can weigh offers from a number of schools.