I concur with Luigi -- they still have the full Swab Summer the following year. At this point in time, having just talked to my D, who is at MMI now, I'm convinced that this Prep School option is the best thing that could have happened to her. She is juggling a heavy class load (Chem, Physics, Calc, English & MMI military classes -- she says it is 21 credits), doing well with the military environment and strengthening her resolve on her life decision. She sounds very happy with everything. In addition, she is maturing ... having to handle grown-up situations and make decisions. The orientation at USCGA this summer was a great prep for the kids going to Prep School - she said it made MMI's orientation look easy. They are through the ROC cycle now and are earning rank and leadership skills.
As far as the question about who pays for what, the Coast Guard has a unique situation for their scholars - they actually join the Coast Guard and are paid to go to school. The Academy pays for their tuition and they pay for Room, Board, etc out of their pay and still end up with something like $10K at the end of the year! I don't see how this can be interpreted as anything but a win-win situation. She gains an education, military experience and maturity AND gets paid to do it!