"Sounds to me that would be a real good reason to commit early."
While all the money may be gone, ironically a bunch of that money is committed twice. Because early comittments are not enforceable, some schools will stockpile comittments and leave the "undeserving" at the proverbial NLI alter. What makes a kid "undeserving?" Coaching change, skills that plateau, draft miscalculations (either for incoming or out going players), grade/score issues, a better player comes along, are a few reasons.
Read the old threads. This is a passionate issue - it seems the younger the player and more inexperienced the parent, the more early comittment seems the better path.
Also, what exactly are the thought processes which lead your kid to pick this school? (Some posters here are gently asking: if he's good enough to get attention now, why lock yourself in without having a full understanding of possible college options - which tend to change as a kid's attention turns towards college?)