My DS received the Falcon Foundation Scholarship letter yesterday. After doing a bit of research we don't believe it is a good option for him. I believe he comes in the last category that Flieger83 mentioned - close but no cigar. His SATs are 1380 (2060 tot), ACT 32, GPA 3.86 plus a 3.8 in 21 college credits he takes at local college as part of his high school program (C++, gaming programming, etc). Captain of two teams (football, ice hockey), beach lifeguard for 3 years, just received Hobey Baker character award, etc. We looked at the web page for one of the foundation schools and they said he'd learn algebra, about 200 vocab words - more like his 8th grade curriculum. I think it may be a great way to keep someone around that they would like but it is not in my son's best interest to coast along for a year. Although the academy would then admit him next year there is still a chance he would not get a nom, which would mean a truly wasted year. This is very possible in my state where their priority is to put minorities on the list (not my words). So, we are looking at the last of his two college choices next weekend so he can finally make a decision before May 1st.
Good luck to all of you in the future. It's been a long, stressful and ultimately disappointing road.