It’s that time of year again–the time when high school seniors who have decided where they want to attend college begin receiving the admissions decision for early decision applications. It is always noted by the colleges and commentators alike that these are binding decisions (i.e., that you cannot accept the early decision agreement and then apply to or accept an offer of admissions to another school). The question is: What is the actual agreement students are making, and what are the consequences for breaking that agreement?
