From Dr. Shel (Shelly Watts), https://www.mbaadmit.com, email: [email protected]In general, if you are applying to a school that is within the Consortium and you are qualified to apply through the Consortium, it is a good move as it will maximize your odds of getting a full scholarship from one of your top-choice Consortium schools.
Yes, the Early Decision calculation could affect things if you are applying to a school that has Early Decision. But, if you have to give approx. $4000 to a school like Columbia to secure your admission under Early Decision but then you find out months later that you got a full scholarship to a Top-12 Consortium school like Tuck, I think you won't be crying too many tears if you decide to give up the $4000 and accept the full scholarship. That strategy could make sense for many candidates. So, in many cases it makes sense to do both - apply ED if there are some schools that have ED you are interested in, and apply through the Consortium to other schools.
Tuck, of course, is a school that is complicated because it has ED and is also in the Consortium, but in most cases it would make sense to apply through the Consortium as admissions committees tend to be more understanding of any flaws in your profile through the Consortium path, and the school should award you at least the same size scholarship they would have through a direct path (or even a larger scholarship!)...
Hope that helps!
Dr. Shel