I want to echo leftyshortstop on having a backup plan.
My son was never recruited by an Ivy, but was recruited by, and and is at, a high academic D1 that is considered one of the "public ivys" and had a pre-read very early in the process. This past summer, I noticed on the PG website that a player was added to his recruiting class sometime after the OV last fall (all the recruits and parents had come as a group for the OV one weekend). Well, this player wound up at another D1 due to lower than acceptable SAT scores (so the players have heard).
Moral: this family most likely had a backup plan and the player landed on his feet (at a less academic school), so you want to keep communication open and not burn any bridges with other schools. It may be a scramble at the last hour (thus the suggestion of a PG year or possibly JUCO).
Good luck this weekend!