Ya know, I'm not really sure about that. You'd think that the money would be gone by then... but an admissions counselor I spoke with said that actually, a lot of money becomes available because other students are turning them down.
So... if 50 kids who were offered $10,000 all turn it down... she made it sound like that frees up cash for people coming in off the waitlist.
She was extremely encouraging when I spoke with her. Told me not to count ND out yet, and to avoid making a final decision if I could. So, she definitely got my hopes up.