Offer Question - Just wrapped up SA stint

So I just wrapped up my SA stint - and we have a very messed up system of getting our offer decisions.

We can have an early decision process, where we find out in a week, but have only 2 weeks to decide OR we can do the normal process, where we find out in mid/early Sept, and have 4-6 weeks to decide.

I think this is terrible, we don't officially know our status, which is obviously a problem if we are to interview elsewhere.

My situation - I have been told by my staffer during our end of summer review, that I am basically getting an offer, that everyone liked me/great fit, and that they would be disappointed if I didn't return. Everyone in my group has basically hinted at the same points as well, and the two directors I worked with said they hope I'm back next year.

I don't want to lie, but I have considered other shops and will be doing some interviews next week. Can I just pick the normal offer process, and tell banks that I have an "informal verbal offer", given my situation?

The last thing I want to do is to blatantly lie, but the alternative I suppose is to accept and reneg, which I'd rather not do if I can avoid...

Thanks in advance