It is and isn't realistic.It all depends on where you shop, what you buy, and where you live. If you don't care about standard of living you can find things for an okay price, but you compromise things as well. For example, people will sublet for a month or two for pretty cheap, but you will have to move around a lot. For food, shop discount or take the time to go to France (which is what I did, there is a tram that goes there) and it's half the price.
But for sure if you get the scholarship for Sciences Po I'd do that. The deadline for Geneva is the 15th. It means you can make the payment and whatnot on the same day. You just wouldn't get a lot of time to decide.
I officially committed to Geneva, mostly because they gave me funding and it is the best program, plus I know the city and have connections there already I am however nervous for the housing.