This is not true. It would have to occur over and over again from one HS for any affect on other high school applicants from the same school.
To answer your question.
If you get admitted ED, you may get your FA package with the admittance or some time after. You will get the FA package (usually within a week) before you are required to make a decision on accepting the offer of admittance (usually 2-3 weeks after being accepted). If the FA package is not enough for you to attend then you can reject the offer of admittance.