Posse Finalist Dilemma??

A couple of days ago, I was given the news that I would be a finalist for Colby College by Posse Foundation (They are known for rewarding full tuition scholarships). The thing is, I don’t know if I can fully commit myself to Colby College. So if I decline the Early Decision position, does anyone know if I will still receive benefits from Posse? I heard that they will notify other colleges about my status, but I don’t know if that requires me to accept the ED and get rejected first.

Thanks!