Time IS money. So yes, you will literally be wasting money. FWIW, colleges aren’t terribly impressed when a student takes an SAT 2 in a language they already speak.
Getting scholarships, if that is what you absolutely need, will require far, far more than just three hours a week. But understand that there are not that many elite colleges which offer scholarships (no Ivy Leagues) and the ones that are offered at the most elite schools are as rare as a unicorn. Your supplements (and interviews, if required) will need to be amazing.
You are a US citizen. Are the TOEFL scholarships you plan to apply for open to US citizens, who by definition speak English? Your English is perfect, so why do you need to study for a TOEFL test? Is there a full ride TOEFL scholarship to an elite university in the US? Or are these scholarships awarded by the other country you are a citizen of? If so, would those scholarship committees know that you are a US Citizen who speaks, reads and writes English fluently?
I am a test prep tutor with a number of students who were due to take the SAT today. Some were notified of cancellations a few days ago. Others were notified yesterday, Friday. We live in a very low COVID area. Test cancellations are at the discretion of the school hosting and being in a low COVID area guarantees nothing.
You do not appear to be interested in the suggestions you’ve been given. Don’t cut anything. Hopefully it will work out and you will be tired but happy.