Should I tell the interviewer that I rely solely on scholarship?

Question

Dear experts at Veritas Prep,

I am preparing for my first MBA admission interview that will take place in a couple of days. I wonder how should I respond if I ever get asked about my plan if I do not get the scholarship I have been aiming for.

A little background: I can only take an MBA if I get a full scholarship. Without a full scholarship, I simply cannot afford the whole tuition and living costs. Even if I do, I doubt the ROI will be good, given that I'm already 35 years old and MBA salary in my country is not high enough to justify the total costs (retirement age in my country is 55).
I have applied for a full scholarship from a source outside the university and will know the result in mid December. That one scholarship is the only full scholarship I know that will cover MBA in my chosen university. If I don't get it, no back up plan, my whole MBA plan ends.

If I tell the interviewer that I will not be able to proceed if I don't get the scholarship, will it hurt my candidacy? How will the admission see this problem? Do you have any suggestions on what to say?

Thanks!

VeritasPrepDozie · Answer

I would not tell them you will attend business school with a full scholarship. I think it could potentially negatively affect your evaluation. I think this is a pretty uncommon question and don't think I have heard of anyone being asked this but I would keep this information to yourself. Not sure what purpose it would serve to disclose. Are you expecting this question for some reason?

stelle · Answer

VeritasPrepDozie  In the online application form they asked about source of funding and I did mention the scholarship I am aiming for. The admission contact I have been talking to is also aware of my plan to apply for a full scholarship. Plus, I will be interviewed by a local alumni, and based on my experience, local interviewers are comfortable with asking such a question. .
So if he asks such question, how should I wrap my true situation? Is it ok to say that I will finance myself even if it is not true?
I will know the scholarship result in mid December. If I get accepted, I am pretty sure the scholarship result will come out before the deadline for deposit.

stelle · Answer

VeritasPrepDozie  Could you please explain further why full scholarship could negatively affect the evaluation? FYI I am applying to a government-sponsored scholarship (my own government), so it won't affect the school's income.

VeritasPrepDozie · Answer

There is no upside to telling a representative from the school you will not attend if you do not get a full scholarship. Some schools would not factor it into your decision but other might look at you as a contingent applicant. Which in all respects you are. They would much rather have a student who is 100% committed even if only via perception then one who is not. Especially since it is an outside scholarship I would keep it to yourself. Your goal is to get into the school since the scholarship is not through the school it presents even more of a reason not to tell them.

I would simply say something like "I have applied to a scholarship that I am hopeful will help fund my MBA.. If I am unable to secure this scholarship I will review my financial option to hopefully secure some other MBA funding. The MBA at your school is very important to me so am hopeful both admission to your program and the scholarship can be my reality"

Should I tell the interviewer that I rely solely on scholarship?

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