I think you have hit upon some critical points. As
@Centerstream noted, the coach was hired last May and recruiting for the 2017-18 season was 99% complete. Given the team only graduated 1 senior this year and the team was 9-21, I think a few things are occurring:
1. The coach doesn't see a lot of talent on the roster and with 6 Juniors more than half who played minimally, they are not producing.
2. The 1 senior graduating doesn't open up any money to bring in talent so clearing all the juniors (most of them anyway, does that).
3. All the athletes know the deal when they sign that scholarship. The juniors certainly apply for and probably get financial aid to complete the last year.
Usually athletic departments, even those that are poorly run and especially those at state sponsored schools, don't cut scholarships without checking their situation first to avoid lawsuits and bad publicity. It also could be that the coach gave the girls this past year to complete 3 years and either prove or disprove the reason to be kept. 14 players is a lot on a team, but so is cutting 10. I suspect the coach has offers out to a bevy of transfers or incoming freshman to fill the void.