According the my experience from last year, they will send out an email rejecting you for the award. And that's it. That will be all you will get from them. Then they will clean up the applications, and you can't log in any more if you are not fellows. Oh, yeah, they will give you user id and password so you can log on to their web page that has the rating sheets. There, you can read whatever the so-called panelists commented on your applications. Last year, they had three rating sheets for each application. And the comments differ among panels; some say this, some say that. I think this is not about you are a good student or not, but it depends on who is reading your application.