If you're selected on the first board, then the real fun begins. You need to select one of the colleges that are offered and hope/pray that you get admitted. When my DS got selected on the 2nd board, the schools still hadn't sent out the decision letters and we had to call the schools' admission's office.
I've heard of horror stories when a student gets a scholarship and then doesn't get admitted into the school. It happened this year at my DS' school according to the ROO.
I wish you the best of luck on this journey.