Hello,
Thanks for your query.
If the scholarship is a priority, you must go ahead with Simon; the scholarship is hefty and with lower monetary investment, you will be able to focus a lot better. At the same time, one cannot be too sure of getting a very high scholarship at the US top ~20 schools with a 670 on the GMAT; hence, one cannot tell whether the process of re-application would have its desired result if you do not wish to retake the GMAT.
Simon might not be in the same league as Tepper but it does have a location advantage especially considering your career goals. Hence, no decision is a wrong decision; it depends on what your priorities are. We agree with the post above..no school (even a high-ranked one) can guarantee a placement in your target company.
Thanks!