Getting into and going to graduate school is pricey, and there’s no denying that the GMAT cost of $250 is an added expense. GMAT exam fees are hefty, and more expensive than many similar standardized exams (except the MCAT…). Furthermore, the actual GMAT cost is not the only fee you have to consider. Most test-takers purchase some sort of practice materials, and many students even take the exam more than once. No doubt about it, paying GMAT exam fees will impact your wallet. In this post, we’ll go over what fees you can expect to pay and how to minimize the cost of taking the GMAT.
An Overview of GMAT Exam Fees
Before we get into any more detail, let’s look at how much the GMAT might cost you. (NOTE: This table applies to most of the world, but not to Europe. In Europe, GMAT scheduling and other GMAT fees can vary a little bit from the costs in the table below.
|Scheduling fee (U.S. and Canada)||$275|
|Scheduling fee (US Overseas Territories, most other countries)||$250|
|Rescheduling fee (more than 60 days out)||$50|
|Rescheduling fee (15-60 days out)||$100|
|Rescheduling fee (within 14 days of the exam)||$150|
|Cancellation refund (15-60 days out)||$100 refund|
|Cancellation refund (15-60 days out)||$75 refund|
|Cancellation refund (within 14 days of the exam)||$50 refund|
|Additional score report||$35|
With that in mind, let’s take a look at some of these GMAT costs in more detail. Skip ahead to a section by selecting a GMAT cost or GMAT score report section from the navigation table below, or keep scrolling down to review all information.
- The GMAT Fee Structure
- GMAT Rescheduling and Cancellation Fees
- Score Reports and (Un-)Cancellation Fees
- Cost to Retake the GMAT
- GMAT Prep Materials
- Grad School Tuition
The GMAT Fee Structure
As seen in the table above, the GMAT costs $250-$275. While the fees can vary a bit in Europe, you’ll only find three different possible fees in European countries. In the United Kingdom, the fee is £225. In most other European countries, you’ll pay a fee of either €250 or $285, but there are some European countries that charge the “global” $250 fee as well. Needless to say, other secondary GMAT fees (score reporting, cancellation, etc.) can also vary in Europe. And of course, local taxes can also vary in any country. See the official GMAT Location Specific Pricing & Regulations page for more information.
Note, however, that if you choose to pay by phone you will be charged an additional $10 or so (again, fees can vary in Europe, especially when a currency other than USD is in play). So, if you have easy access to the internet, register online!
GMAT Rescheduling and Cancellation Fees
Rescheduling the GMAT
The $250-$300 base fee gives you one administration of the exam. GMAC, however, will add to your GMAT cost if you choose to do something like rescheduling your exam. In most of the world, rescheduling the GMAT online costs $50 if you reschedule your GMAT exam date at least 60 days days before your scheduled test, $100 if it’s 15-60 days in advance, and $150 if 1-14 days in advance.
So when can you reschedule your GMAT test date? To avoid paying hefty fees, you should reschedule at least 1-2 days before your GMAT test date.
You cannot reschedule the GMAT within 24 hours of the test date. If you don’t show up for your exam, your account history will instead register a “no-show.” Note that this will not be sent to schools in your score report, however.
GMAT Exam Cancellation Policy
You can also cancel your GMAT exam (up to 1 day before your test date). For most test-takers around the world, the GMAT cancellation policy offers a refund of:
- $100 (with more 60 than days notice)
- $75 (15-60 days notice)
- $50 (1-14 days notice).
This refund comes from your initial registration fee (again, different GMAT exam cancellation fees may apply in certain parts of Europe).
GMAT Score Reports and Exam (Un-)Cancellation Fees
Besides rescheduling fees, GMAC also charges for score reports. On test day, you are given five (5) free score reports. Any more will cost you $35 each in most countries, with different pricing in various parts of Europe.
Finally, if you cancel your scores and then later decide you want to un-cancel them, the good news is that you can. On the other hand, you’ll be charged a $50 reinstatement fee, possibly more in Europe.
Cost to Retake the GMAT
You may retake the GMAT once every 16 calendar days, but no more than 5 times in a rolling 12-month period (but let’s be real, taking the GMAT 5 times would not be ideal anyway). However, there are no discounts for taking the test again. Also, don’t forget that the schools you send score reports to will see all of the scores you’ve received in the past five years. Unsure if you should retake the GMAT? You can find out more about GMAT retakes here.
GMAT Prep Materials
While most of the GMAT cost comes from GMAC directly, you’ll also want to buy some prep materials! Keep in mind that the range of materials is enormous. A full, in-person course will run you thousands of dollars. Something more self-guided, like a GMAT study guide or online test prep could cost you less than $150. You can see some of our Magoosh plans here.
For high-quality free practice, you can also check out:
- GMATPrep Software from GMAC
- Advice from Online Forums
- The Magoosh FREE GMAT eBook is a great way to save money with top-notch materials
- You can also check out the Magoosh GMAT Blog (especially this comprehensive post on GMAT test information) for practice problems, expert advice, and more!
Grad School Tuition
If you’re hoping to attend a top-tier business school like Harvard, GMAT exam fees will just be a drop in the bucket! Always remember to put your GMAT cost in perspective. The whole point of taking the GMAT is to get into business school, after all. And that’s very expensive!
Since B-school itself will be pricey, you might want to consider this when budgeting in your GMAT cost. If you’re concerned about expenses, you might consider planning to avoid a rescheduling fee or a retake. In addition, be aware that GMAT fee waivers may be available. You should also be prepared well in advance to send in your score reports to maximize your five free ones. After all, every dollar counts!