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Unless the rules have changed, you can resign from a Service Academy any time before starting your third year. After that you only get out if you get kicked out (such as committing a violation of the Honor Code). If you do resign during those first two years, there is no debt to be repaid, but you still have to fulfill your full six year military service obligation. That can be 4 more years in the Reserves (at least it was for me), and you serve that time as Enlisted. After resignation from the Academy you can transfer normally to another school.
The Academies obviously do recruit, and have ways to help athletes gain admittance (finding a Congressman with an uncommitted slot, appointment by Secretary of the Service Branch, etc.).
After graduation you have a five year commitment, plus more if the Service puts you through grad school, or in the Navy if you go to flight school, etc.
The rules are a bit different from when I was there. My daughter was looking into following my footsteps at USCGA and they pitched her on the idea that the first year was a freebie if she absolutely didn't like it.