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GMAT Fee Structure 2020 (Affordable For Everyone)

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How much does the GMAT actually cost? Is the registration fee all I need to pay?

If you answered $250, then that’s partially correct. No matter which country you’re sitting the exam in, the standard registration fee for GMAT is $250. However, there are other costs that you may incur in the run-up to your GMAT, as well as after.

In this post, we’ll breakdown the cost associated with taking the GMAT so you can prepare your budget ahead of time.

Registration Fee

As already pointed out above, the registration fee for GMAT is $250. The most commonly used method to register and pay is via the online portal mba.com. To do this you will create an account, fill up your profile, choose your preferred exam center and pay via credit or debit card. Here are a few points to keep in mind:

  • There are no Value Added Taxes
  • Payment is accepted from VISA, MasterCard, American Express and JCB credit and debit cards
  • Depending on your country, you will need to confirm with your bank whether your debit card is activated for online payments

GMAT Preparation Cost

Will you be taking a crash course or studying on your own?

The answer to this question will determine a significant part of the cost of taking the exam. Preparatory classes can be rather expensive, but if you feel you do better with guided learning, this is a good investment.

Another part of your preparation cost will include buying guidebooks and other preparatory material. There are many resources which come loaded with practice exams and are a great way to judge your performance. Many people succeed by self-studying along with taking practice exams.

Do I Need to Pay to Send My Results to Universities?

You may not know but your GMAT results or your score report will be sent to universities directly by the examining body GMAC. Depending on how many universities you want to apply to, you may need to pay for sending your score reports.

So how does it work?

At the time your GMAT test, you get to choose the universities you want your results to be sent to. If you’re applying at five or fewer universities, your score report is sent free of cost. However, if you’re applying to more than five universities, it will cost you $35 for each additional application.

All additional score reports can be ordered online after the test. Keep in mind that your first five choices of universities will receive your result approximately 20 days after your test, all additional universities receive scorecards after 25-27 days.

You also have the option of sending an Enhanced Score Report for $30. This is a more detailed report card on your performance.

Do I Need to Pay for Rescheduling?

You may reschedule your exam date, time and location by paying an additional amount. If you reschedule more than 60 calendar days ahead of your test date, you will need to pay $50. For a period of 15-60 days before your appointment, you will need to pay $100.

However, you will need to pay the full registration fee again if you initiate rescheduling within fourteen days of your set exam date. Keep in mind that the rescheduling policies and fees are changed from time to time, and also vary for different locations. So it is a good idea to confirm this information at the time of registration. Click here to see location-wise charges.

Rescheduling can be done via phone (+61 2 9478 5430) or online (mba.com).

RESCHEDULE FEES* More than 60 days before the appointment US$50
15-60 days before the appointment US$100
14 days and less before the appointment US$150

*Rescheduling fees are subject to change. It is advised to verify these details at the time of registration.

I Want to Cancel My Exam, Do I Get a Refund?

Depending on how far ahead of time you cancel you may qualify for a refund. Canceling is possible via phone and online as well. You are refunded $100 when you cancel 60 days before your test date, and $75 if you cancel 15-60 days ahead of time.

If you cancel less than 15 days before your test date, you may not receive any refund at all.

CANCELLATION FEES More than 60 days before the appointment US$100 refund
15-60 days before the appointment US$75 refund
14 days and less before the appointment US$50 refund or no refund

*Cancellation fees are subject to change. It is advised to verify these details at the time of registration.

How Much Will It Cost to Cancel My Score?

You can even choose to cancel your GMAT score right after the exam if you aren’t satisfied with your result. If you decide to keep your score, it will be sent to your choice of universities so you need to choose wisely.

Since GMAT is a computer-based test, you are given an unofficial preview score right after the exam. The results shown are of three out of four sections: Integrated Reasoning, Quantitative Aptitude, and Verbal Ability. The Integrated Reasoning section is scored on a scale of 1-8 and is not included in the total score. The unofficial total score you will see is the sum of the Quantitative and Verbal sections. Based on this unofficial score you can decide whether this is a competitive result and choose to either accept or cancel the score.

Canceling your score right after the exam is free of cost but once you leave the test it will cost you $25 for up to 72 hours after the exam. Whereas reinstating a canceled score will cost you $50.

Asking for a Re-Score on Your Essay

The GMAT Analytical Writing section consists of an essay writing task and is scored on a scale of 1-6. In addition, it is marked twice, once by the automated system and second by an examiner. If you are not satisfied with the score you may request a rescore by paying $45.

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