Occasionally, students back out of early decision agreements without a good reason, says Richard Nesbitt, director of admission at Williams College in Massachusetts. "It would be a big ethical issue," he says.
The early decision agreement is not legally binding and the school wouldn't go after the student for tuition, but there could be other consequences.
If, for instance, they found out a student somehow had applied to two different places early decision, or even another early action and the student had broken the early decision agreement, Nesbitt says they'd call the other schools and the student would risk losing both acceptances.
It may not be that difficult for schools to determine if students are playing the system. A student's high school guidance counselor may be aware of what the student has done and contact the school, says Nesbitt.
Katharine Fretwell, dean of admission and financial aid at Amherst College, another Massachusetts institution, says her school and about 30 other colleges share lists of students admitted through early decision. And Fretwell says she'd likely also share the names of students who were admitted via early decision, but who are not attending for financial aid and other reasons.