I was nominated for a fellowship that will be decided later in the summer... and of course was conditional on accepting the offer... which is independent from the fellowship..
I don't know how to explain it but I was called at the beginning of Feb saying I was nominated for the fellowship so admitted to the program.. then in mid-march they gave me a financial offer that will work if I don't get that fellowship..
I am telling you this, because I suspect that when all those fellowships will be assigned many departmental funding spots will be cleared and most likely assigned to someone else.
Anyway I am in the business school so I guess there might be different, but the fellowship I will be competing for is a university-wide.