The battalion selects candidates based on their need to add to the pending Junior class, and the candidates are usually sophomores from campus or transfers/community college students. In the current atmosphere of capped contract missions and scarce resources, LTC will become harder and harder to get, unless you are at a school that historically under produces.
Additionally, there are no scholarships allocated for LTC this year, and I expect that trend to continue. I wouldn't be surprised if the bonus goes away in the coming year or two also.
If you are going to be a freshman this fall put LTC out of your head, and enroll in ROTC class.