This is what it says:
"The Presidential Scholars Program offers a select group of students the opportunity to conduct research alongside world-class scholars and teachers, funding to design individual projects, and the chance to participate in activities offered exclusively to Scholars.
In their first year, Presidential Scholars are offered paid Colby Academic Research Assistant (CARA) positions, which pair them with a professor on a research project of mutual interest. After the first year, Scholars have exclusive access to Opportunity Grants of up to $3,000 for independent research, internships, or humanitarian projects. These opportunities span the curriculum, provide a catalyst for making a significant impact in the world, and help prepare students for life after Colby.
To be considered for this program, we ask that you review the tentative list of research opportunities for the Class of 2022 and indicate your project interest by February 11.
Please note: The Presidential Scholar selection process is entirely separate from Colby's holistic admissions application review. In the coming months your application will be closely reviewed by our admissions committee and you will receive your admission decision by April 1.
We look forward to learning more about you. "
It's pretty vague as to whether its an offer, nomination, acceptance, or completely unimportant. Is it an implied admission?