phone interview while still waiting to hear back about grad school

i applied today, and heard back to schedule a phone interview within minutes. i scheduled for next Thursday, this would be my second program. however, i've also applied for an MFA program that i would start late august, and i should hear back about the second round of interviews by the end of next week. i didn't expect Disney to reach out about a phone interview so quickly, if i am honest with my recruiter about the situation will it have a negative effect on my eligibility? if i get an offer before i hear back from the school i applied for, how long would i be able to defer accepting? (in 2022 it was only one week, i'm not sure if anything has changed!)