A couple of important disclosures here before I chime in: 1) DS's AROTC scholarship acceptance/declination experience occurred two years ago - after the 3rd and final board and 2) the offer was for the 3 year AROTC scholarship.
So this was the case back on May 10, 2012, FWIW.
"DS’s OSU ROO mentioned something in the phone conversation yesterday that really put our minds at ease and it had to do with the very likely 'turn back' of the 3 year AD scholarship that DS was awarded through the 3rd and final AROTC board. Today marks the acceptance/declination day for this scholarship. The ROO was very clear that DS should mark the ACCEPT box on the form even though the USNA Foundation offer is the path that DS will choose if/when it is completely confirmed. The ROO was aware that it may only be a few days more before the USNA Foundation/prep school offer is completely confirmed, but as of now, the tangible, hold-in-the-hand documents from the selected prep school have not arrived.
The question was asked, 'Will accepting this [the AROTC 3 year Advance Designee scholarship] now and then later turning it back instead of outright declining right now be bad for those who are on a wait list?' Well, first, there is no wait list at this point, the ROO said, not after the 3rd board – all the national scholarships for this cycle that would be offered have been offered – there are no more selection boards, waiting lists, etc. AND, and this was a big, mind-at-ease-now AND – by accepting the scholarship now (the scholarship can only be accepted for one of the schools listed on the form – OSU was the top school for DS and the only school a deposit was sent in for) and the very likely turn back a little later, the money that would have gone to DS beginning with his sophomore year is put in the OSU’s AROTC on-campus 3 year scholarship pot to be awarded to another OSU cadet. So VERY GOOD NEWS…1. the urging by the ROO to accept the award 2. the explanation that no one is hurt or left in the cold because of acceptance now (on May 10) and then the likely declination in the near future (as soon as next week or right up until 'August 22nd when OSU classes begin and you are not there,' the ROO said) and 3. the ROO’s statement that quite probably someone will actually benefit from DS accepting now and declining later as in a hardworking, competitive, promising non-scholarship OSU Freshman AROTC cadet - a 3 year on-campus scholarship will be his or hers at this time next year!"
Like I said at the outset, all this happened two years ago with a 3 year award offered up in the final board. (DS wound up attending NMMI as a USNA Foundation sponsored prep 2012-2013 and is now a midshipman - USNA Class of 2017.)