Great that you have so many admits from top business schools, and you are wise to use these scholarship offers effectively to maximize your options. My advice about exaggerating competing offers as a negotiating strategy: tell the truth. It's easier to remember.
They're already interested in you, so assume that they'll do what it takes to make it possible for you to attend their program. But in addition to the potential ethical infraction here, it's also good sense to be honest and transparent in all of your dealings with the admissions committees, both because they might find out (admissions people do talk to each other) and because it will be more comfortable for you than worrying that you might be caught out in the future. So yes to negotiation, no to exaggeration.
Good luck in your MBA studies!
Margaret Strother
Stacy Blackman Consulting
_________________
Interested in a free 30 minute consultation with the Stacy Blackman Team? Sign up here: https://stacyblackman.com/contact
Margaret Strother | Stacy Blackman Consulting Inc | https://www.StacyBlackman.com