GMAC Expanded GMAT Fee Waiver Program

GMAC Expanded GMAT Fee Waiver Program

The Graduate Management Admission Council has announced the GMAT fee waiver program to be expanded for the coming year, building on the existing initiative, which gives a chance to prospective B-school students, whose financial situations prevent them from paying the $250 fee for the GMAT exam, to take the test for free.

GMAT fee waiver program started in May 2007 when an initial number of fee waivers were issued and information about the program was circulated at the annual meeting of NAFSA: Association of International Educators (formerly the National Association for Foreign Student Affairs).

Test takers do not have any direct access to fee waivers. GMAC provides fee waivers directly to business schools and permit them determine and grant the waivers to economically poor candidates. Although GMAC allows business schools to request up to 10 fee waivers at a time, it might accept more requests if a school has more applicants with inadequate financial support as schools have sole discretion to determine whether a candidate is eligible for fee waiver. Schools that receive waivers must provide a monthly accounting to help GMAC monitor its outreach efforts.

To get a fee waiver, the prospective candidate has to contact target school and check whether they have been authorized by GMAC to help economically disadvantaged students.

The pilot testing is expected to last for at least one year. GMAC will monitor the program closely and assess its feasibility as a long-term strategy.

Concluded.

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