I accepted the CP for Spring 2009 as a backup plan, which was a good thing as the economy caused Disney to cancel all but a few of the management internship positions. I wound up coming as a CP. There was noise about the internships not being offered for the Fall as well, so I applied and accepted an extension of my CP. In April, out of the blue, they called and offered me a management internship for the Fall. After I accepted, I called the CP office, explained, and declined the extension. She congratulated me profusely and wished me well.
I had been told when I applied for the PI that it would be no problem to transfer the program fee, btw.
Just remember, though, that you can't be here on a student program longer than 12 months, so you can do a regular CP season and a PI, but not advantage, nor can you extend your PI at the end of your program. I did not know that going into the PI and my leader tried to get them to let me extend, but it was "no". I did wind up getting statused, but my situation is extremely unique.