Still, being a highly skilled athlete does offer advantages in the extremely competitive admissions process at the Ivy League schools. Because all of the schools are division one, they begin recruiting the summer before your senior year of high school. He will communicate his interest in you as an athlete to the Office of Admissions and Office of Financial Aid who will in turn send you a letter of "likely acceptance" along with a "likely financial aid estimate" by October 1st, as of 2010.
It is important to note that the "likely" letter is not the same as a letter of acceptance. The official notification for both admission and financial aid will not arrive until "Early Action" notification, around the middle of November, as of 2010. This is contingent upon your continued satisfactory academic performance for the remainder of the your senior year. Though not specifically reserved for athletes, each of the Ivy League schools commits to meeting 100 percent of your demonstrated financial need as determined by the FAFSA and CSS Profile.
If you're determined to acquire an athletic scholarship at a prestigious, you'll have to accept that they do exist, just not in every sport. The less common sports such as swimming and tennis often have split scholarships between players so instead of getting a full scholarship you would receive half of a scholarship. Some of the schools that offer scholarships based solely on athletic ability include Northwestern, Stanford, Georgetown, Notre Dame, Boston College and Duke University. Each school varies in terms of admissions requirements and recruiting procedures so it's appropriate to research the school and sport if you are interested. Don't be afraid to contact the coach, making your interest known.