Posse Scholarship Reviews and Partner Colleges?

So I recently heard about the Posse Scholarship, and my guidance counselor nominated me for it. I have a few questions about the scholarship and the partner schools

-Is the scholarship for full tuition or tuition + room and board?
-Since you will be applying early decision to a specific school, if you were accepted, could you decline the acceptance for financial reasons?
-Does anyone have any reviews/experience they want to share about some of the partner colleges, such as Hamilton College, Bucknell University, Bryn Mawr College, or Denison?

Thanks!