Earning an masters degree in business administration, or MBA, may lead to endless opportunities and esteemed careers. However, in today’s rough economy, some students may discover the process of applying to business school can be costly.
Now an organization is aiming to help students in need of financial assistance before they take the Graduate Management Admission Test (GMAT). Led by the Graduate Management Admission Council (GMAC), the initiative will waive the $250 application fee for individuals who qualify for assistance.
“The world needs talented managers,” said Julia Tyler, executive vice president of member services and school marketing for GMAC. “The fee waiver program reflects GMAC’s commitment to helping people with talent enter management education, whatever their financial circumstances.”
The GMAT is currently a mandatory component for most business school applications and the majority of students who want to earn an MBA degree are required to take the test. It is even necessary for students who earn an MBA through an online business degree program.
According to MBASchools.com, an individual who earns an MBA degree can expect to earn more than $80,000 annually upon entering the workforce. Students interested in business and management should consider a degree in business at the masters level, as it could be a solid investment for the future.
April 12, 2010
[...] Sat, 10 Apr 2010 12:03:54 GMTmore info…Online MBA Degree Students May Benefit from GMAT Fee Waiver [...]
April 21, 2010
I did not know you could get a masters degree online. My daughter already has a bachelors degree in marketing and would like to get a masters, but works all day and does not want to go out to a school at night. I am happy to see there is an alternative and she can enroll in graduate school at night. Are there special requirements for this degree.
May 5, 2010
Can you tell me how I start the process of getting financial aid for my MBA? I just lost my job and cannot afford to pay for it, but I think I will be more successful at getting employment.
May 7, 2010
It’s great that your daughter want to get her masters! These days having a bachelors is often times not enough to be competitive. Most MBA programs require you to take the GRE or GMAT before you apply.
May 9, 2010
I am taking classes right now to get my MBA. What is the best path to finding employment after I graduate?
May 14, 2010
I am interested in getting my MBA in business, but I am working and do not want to leave my job. Is an online MBA valued by employers as an on campus degree?
June 21, 2010
How difficult is it to continue working and get a masters degree online at the same tme?
June 22, 2010
Is there a website I can go to and find out more information about getting an MBA online?
July 2, 2010
I recently got my MBA online, and got financial aid in order to complete it. I have since gotten the promotion I wanted at work and it did not matter that I got the degree online.
July 2, 2010
I also got my masters degree online. Not only did it not matter to my employer, but once they knew what I was doing they let me study at my desk if I was getting ready for finals or writing a paper. Are other employers that understanding?
July 5, 2010
I did not know that there was a $250 fee. How do I go about applying for the fee waiver?
July 14, 2010
I am interested in getting my MBA online. I already have a bachelors and a really good job. I am getting ready to take GMAT and was wondering if the test changes every time it is given?
July 18, 2010
These days it seems like if you want to get a good job, you have to have at least a Master’s Degree. A Bachelor’s Degree today is like a high school diploma.
July 25, 2010
I am getting ready to take my GMAT and have enrolled in a prep class. Should they know about this reimbursement?
July 27, 2010
I am interested in getting my MBA in business but don’t know if I can handle working and going to school. Are the online classes very time consuming?
August 5, 2010
I have my degree in businesss, but after working for 3 years in the same job, I am thinking that getting my MBA might earn me a better position. How long does it take to get an MBA online.
August 7, 2010
I think it is great to be a able to get the 250 fee waived, but compared to the cost of the degree, it really is insignificant.
August 7, 2010
I never knew there was a fee to take the test. But I have never taken the test before. What is the fee for, are there costs associated with the test?
November 4, 2010
This is a great idea. Afterall once you have made it that far, you need to get as much financial aid as possible.
January 12, 2011
Hi Cynthia. The GMAT does change from time to time, most recently a new section was added and is expected to go into effect in 2012.
January 20, 2011
Hey Daniel. The great thing about online classes is that it really fits to your schedule. The classes are as time consuming as you want/or don’t want them to be. Make sure you set aside as much as time as you think you’ll need for reading, homework, studying etc.
January 20, 2011
Hey Robert. If you believe you qualify for the reimbursement you should definitely talk to your financial aid office about it or contact the GMAC for more info.
February 16, 2011
The waiver sounds great, but does it apply to all online schools or only a select few?
February 21, 2011
Hey Matt. An online MBA degree can take as little or as long as you may need it to. It simply depends on the number of courses you take each year, the program etc.
February 22, 2011
Hi Ryan. The GMAT is similar to the SAT where you must pay to take the test. Go here for more information about the fees associated with the test.
March 16, 2011
Hi Derek. According to the GMAC website “GMAC does not provide fee waivers directly to test takers; rather, fee waivers are provided to schools upon request…We offer schools up to 10 fee waivers every year to use at their discretion as part of a program or otherwise to help economically disadvantaged test takers.”