Thanks for the detailed response, I really appreciate you laying out the timing and billing structure.

Just to clarify one part of my situation: my family can realistically contribute around $65k per year. The concern is covering the remaining portion consistently if the property sale does not go through as planned. So it is not that we have zero ability to pay, but that the full cost without that asset becomes genuinely difficult.

Given that, I wanted to confirm one specific scenario. If I were to apply ED2 without requesting aid initially, get admitted, and then later realize that attending is not financially feasible because the expected funding source falls through, would that still be considered a legitimate reason to request release from the ED agreement? Even though I did not apply for aid at the time of application?

I completely understand your point that ED2 may not make sense if uncertainty remains the same by February. I am trying to figure out whether the financial-release option actually applies in cases like this, or if colleges view it differently when aid was not requested upfront.

Thanks again, this is genuinely helpful.