this is correct. if you get a scholarship next board, the decision will probably come out by the end of Jan, and you will have till the end of Feb to pick a school among the scholarship school list they provide.
this is what makes the whole college application process that much more complicated for the AROTC scholarship candidates: they have to match the school and the scholarship. If you are fortunate enough to get the AROTC scholarship, the next thing to do is to pick a school where the odds of you getting in are very good.
Every year, we hear about unfortunate AROTC scholarship winners who did not get into the school they got the scholarship for, and couldn't transfer the scholarship to the school they were admitted to.
Here are some things for you to consider:
Be very careful about putting together the school of intent list. Make sure that you include at least one safety school in your list - the kind of school where you have very good odds of getting in. If you get scholarships to schools but the odds of getting in to these schools are all iffy, you have a reason to worry.
caveat: my input is really relevant to highly competitive schools with <<30% acceptance rate. In other schools with more flexible admissions policies, the fact that you got a ROTC scholarship in and of itself may become an overwhelming aspect of your admissions qualifications. I really don't have any idea for these schools' admissions policies.
NOTE: THE BEST SOURCE OF INFORMATION IS THE BATTALION OFFICERS OF THE SCHOOLS YOU ARE INTERESTED IN. CALL THEM and ask what was the range of SAT, GPA, etc of the ROTC scholarship winners who were admitted to their school
good luck.