I would have him call Schreyer admissions tomorrow morning. He should have a decision (even if waitlisted).
By any chance, are you clicking on SHC icon from the main PSU login of your kid? it leads to the SHC page of the students where status shows as application complete. try this: https://www.shc.psu.edu/admissions/first-year/ there will be a banner to click.
Hope this pic helps you. I figured that out after 2-3 hours
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Question about Schreyer - has anyone ever heard of students regretting doing Schreyer? I canât imagine why - sounds like an amazing opportunity - but - trying to explore all angles 
If you donât like it.. you can just leave after freshman year 
i know lots of students who started in Schreyer, but didnât graduate in SchreyerâŠ
Every year, there is a small number of students that are put on probation, then donât continue in SHC due to grades. In my experience (only anecdotal), these were kids that bit off more than they could chew and took a high number of credits and didnât balance a schedule. They came in thinking they would be rock stars based on their HS experience and ended up shocked at a college transition.
The other main group is the ones who decide they donât want to do a thesis and drop out senior year. They are usually involved with something else or donât want the commitment of a thesis, so donât graduate in SHC.
Not sure that answers the question, but that is my experience.