What is the GMAT Exam Fee?
This is one of the most frequently asked questions by the aspiring GMAT seekers on the internet and the answer to the question is simply stated in one line “GMAT exam fees 2019 is US $250”. GMAC (Graduate Management Admission Council), the managing and administering body of the GMAT assessment test follows a uniform exam fee structure worldwide.
The GMAT fees in India is approximately INR 18,000 in Indian currency (US $250). However, the GMAC provides economic assistance to the students through GMAT fee waivers. Assistance is specially provided to those students who really want to take the GMAT exam but are unable to do so due to the high cost of the GMAT exam. The students can take advantage of this fee waiver offered by certain B-schools and accordingly proceed to shortlist them. Here we bring you some of the most frequently asked questions with respect to the GMAT exam fees and GMAT fee waiver.
What does the GMAT Exam Fee consist of?
While registering for GMAT, candidates are given the option to choose a minimum of three and a maximum of five score reports and once the results are out, the official scorecard is directly sent to the short-listed three/four/five B-schools automatically. Any candidate who wishes to send his/her official GMAT scorecard to more than five schools, GMAC charges an extra amount of US $35 for every additional score report. For an enhanced score report, the cost is around US $30. Are you looking for GMAT Scholarships? Click here to learn more.
Does Rescheduling of the GMAT Exam involve extra cost?
The answer is a big YES! If any candidate who wants to reschedule the GMAT test at least seven days before the scheduled exam date, then an additional fee of US $60 will be charged. On the other hand, if you reschedule your exam within seven days of your actual exam date, then you will be charged the complete fee of US $250.
GMAT Score Cancellation and Reinstatement Fee
Once you have completed your GMAT exam, you will be immediately presented with raw or unofficial scores which comprise of both your Quant and Verbal scores. A more detailed score report will be sent to you via email and a hard copy will also be sent to your address. However, you have to take the decision to either accept the score or cancel it immediately after you finish the test. In case you decide to cancel it at the test centre and later decide to reinstate it, you have to pay a fee of US $50. Similarly, if you initially decide to accept the GMAT scores and then change your mind and would like to cancel the score then you have a time period of 72 hours to do so and the fee for the same will be US $25. For AWA Essay Rescoring, the GMAT cost is about US $45.
|Also Read: GMAT Policy on Cancelling Scores|
GMAT Registration Cancellation Fees & Refund:
If you cancel your GMAT exam online at least seven complete days before the scheduled test date, you’ll receive reimbursement of US $80. An amount of US $80 will be credited to your account, with an additional service charge of US $10 if you cancel through the telephone. There will be no refund if you cancel the test within seven entire days before the assigned test date and time, and you may be required to pay yet another US $10 as a service fee for cancellation over the telephone. In case you would like to retake the exam then you can do so within 16 days from the last attempt. However, it is interesting to note that you can take the exam up to only five times in a calendar year and 8 times in total. There is no discount for attempting the exam again and you will have to pay the entire GMAT fees to retake the exam.
What is GMAT Fee Waiver?
GMAC, the regulating and administering body of GMAT ensures all prospective test takers have access to the examination. In case, if a prospective test taker is economically less privileged and is unable to bear the GMAT exam cost, then he/she can receive up to 10 times of fee waiver every year. Test aspirants can request fee waivers by completing the form with the following information:
- The number of fee waivers requested (up to 10).
- Description of the process to determine eligibility for awarding GMAT fee waivers to candidates.
Nonetheless, there are many terms and conditions involved to determine if a candidate is truly eligible for a GMAT fee waiver. Therefore, as a requester, you need to ensure to check all of them accordingly before you proceed to submit your application.
|Also Explore: Top MBA Colleges provide Fee Waiver|
Remember that while it may seem like an expensive affair to pursue an MBA degree from an international university of repute. The perks of studying there will certainly prove beneficial for you once you complete your management degree. The ROI (Return on Investment) will be great since you will gain ample amount of job opportunities at some of the best multinational corporations across the globe. Top paying employers will be keen to hire someone who has the coveted MBA tag from a reputed university. You will be considered for a middle-level or top-level managerial positions and therefore along with it, you can expect a handsome pay package as well.
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