early decision...is it worth it?

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keeper of the three lions
7+ Year Member
15+ Year Member
Nov 16, 2001
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Does applying for Early Decision significanly increase my chances for admission? I am considering EDP at a top ten institution next year--is that a good idea for an ultra-competitive admissions program? And would EDP disadvantage me considerably if I was to apply to other competitive programs after being rejected from the first (assuming the worst case scenario)? Have any of you done this at a top 10 school, or know of anyone that has? Any advice is appreciated. Thanks.