I think it's better to be in school over the next year, when things are bad an the opportunity cost is lower, and then to have an MBA sooner so you can take advantage of things.
Many French business schools have international locations and it might be worth asking if they have plans to start the next cohort abroad.

I quite liked this article from WHU: https://www.linkedin.com/pulse/guide-mba-students-how-navigate-your-career-during-corona-menges

My opinion is rather grim on the matter so far (march 25)
Here is my line of thinking of how things will progress:

-It seems that some countries that "beat" the virus have loosened their restrictions, while still having more than zero patients.
-Right after that, the number of infected started rising again.
-It is possible, once the numbers reach critical again, they will set entire cities or countries into quarantine again.

So! So far it looks to me like we are going to have weeks of lockdown to contain the virus, followed by weeks of normal life during which the virus will spread again, followed by weeks of lockdown, followed by weeks of normal life and so on. Slowing the spread until enough people have been infected to be relatively safe.
This is however a VERY unsustainable model.

**NOTE This may (and hopefully/probably will) change very soon as many drugs are being tested.

Anyway to get to the topic:

As things are now, I wouldn't want to be in an MBA where the class spends much of the time online or avoiding classmates because of contagion fear, social distancing or whatever. That is the opposite of what people should be doing during an MBA.

If there is going to be social distancing and class canceling next year, I would rather do an online mba, take advantage of quarantines to stay indoors and study.

But like I said, things may change soon. It is too soon and many variables are unknown still. I would wait for more data to decide.

I quite liked this article from WHU: https://www.linkedin.com/pulse/guide-mba-students-how-navigate-your-career-during-corona-menges

very interesting. Thanks for sharing this Duncan.
The current market situation and the following recession definitely does not make things easy, in terms of choices regarding an MBA.

Good morning everyone,

@ Mr. Ducan,

I have actually decided to defer the MBA to next year (2021) due to the ongoing pandemic risk, and also subsequent financial risks. I'm concerned after all the money I will pay (and possibility of debt) that I will be studying online, or not networking enough, and we also don't know what will happen in the future in terms of the pandemic recurring again or the job market not performing well. 

The problem with deferral is that the university provided me with a scholarship, and will not defer the offer to next year. So I won't get the scholarship if I defered to next year.

So what do you recommend in this dilemma?

My profile is a manager and entrepreneur, who is looking into upgrading his business and entrepreneurial skills, earn his masters degree, and expand his network of classmates, professors, and mentors.

Thanks in advance

You need to calculate the Net Present Value of the options. If you simply want to upgrade skills and network with people, then you can start any MBA. Maybe start at a good part-time school near you or with one online. With that option, your opportunity cost is lower.

On the other hand, maybe you have other goals too. Imagine if you wanted to work in France. Over the next year you can learn French and apply for better schools that are more likely to get you into work. Then the value of the MBA would be higher. 

However, if you take this MBA then you have advantages. This time next year you could have an MBA and companies will have made their cuts. Then they will be looking for new talent to reshape their business. Will the employers you want look for someone like you at th schools you attend? Imagine: I am a European and I want to work in healthcare. If I am graduating at IMD, Vlerick or HSG then I will be lucky. But if I am graduating at IIMA or at Washington, which are also great schools, then I am not in the right school.

So, identify the options, establish the likely financial outcomes, and calculate the NPV. Either way, a slightly better outcome will matter much more than the scholarship.