I applied for it. It's my understanding that it is like pre-declaring your minor and that your application is evaluated by what ever department you selected just as if you had applied to that department normally.
I have been given my full financial aid package from most schools along with/shortly after my acceptance letter. One school took 2 weeks to prepare that info. Another gave me my package and stated that I was being considered for additional fellowships and they would let me know about those in late March.