hmmm...I was sure extensions of scholarships could be granted on satisfactory performance. Perhaps I have my facts wrong, but am quite certain that the woman at the US consulate of whom I inquired about US scholarships mentioned that there is (at least) one scholarship to cover all your post-grad studies. So yes, am sure that my last post contains substantial truth, at least. Have u been in to the consulate yet? The help one gets from there is much more...helpful, for lack of a better word, than from those dodgy 'study overseas' info days (with cheap folding tables and disposable tablecloths), in mine and a few other friends' experience.
BUT, it sounds like u have ur heart set on selling your soul to Mallesons. In that case, it'd be quite a futile exercise to try and dissuade u anyway. Ah well, perhaps you'll make MORE than what the studies will cost, and that'll make the soul-sale totally worth it, in my hedonistic opinion.