Paying for the GMAT when living outside the United States can be somewhat confusing, as prices are only listed in USD. Below, we’ll be taking a look at GMAT fees in India in terms of the rupee (₹). (Note that this post was written in November 2016 using an exchange rate of $1 = ₹68.2)
The Minimum GMAT Fee in India
At minimum, everyone taking the GMAT will have to pay $250 USD, or roughly ₹17,000, to reserve a seat at a testing center. Test centers are available in 26 cities in India. To find a testing center near you, click here.
GMAT Fee Waivers
If paying the registration fee is going to cause you noticeable financial pressure, you should contact the admissions department of schools you’ll be applying to. Colleges that participate in the GMAT Fee Waiver program will allow a limited number of students to take the GMAT at no cost (based on financial need).
Rescheduling Fees
After your initial registration, you may have to deal with some additional fees. If you discover you need to reschedule your test date, make sure you take care of it as soon as possible. As long as you reschedule more than 7 days from your original date, you’ll only need to pay ~₹3,400 ($50). However, attempting to reschedule within 7 days of your original date will cost an additional ~₹17,000 ($250).
Cancellation Fees
Likewise, if find you need to cancel your registration, make sure you do it as early as possible! Cancelling further than 7 days out will net you a ~₹5450 ($80) refund (not much, but it’s better than nothing!). There will be no refunds for cancellations within 7 days of the scheduled test date (ouch!).
Additional Score Reports
On your test day, you will be able to send your score reports to five institutions without any extra charges. If you need to request any additional score reports, expect to pay ~₹1900 ($28) per report. So if you need two additional reports, you’ll have to pay ~₹3800.
Students interested in retaking the exam may want to purchase an Enhanced Score Report (ESR) for themselves, which contains detailed information about each subsection of the test. The fee for the ESR is ~₹1700 ($25).
For information concerning the overall scoring trends of test takers from India, check out this blog post about GMAT scores in India.
How To Pay
The easiest way to pay for the GMAT is by using a credit card online. If you plan on using a debit card, please note the following potential complication (as mentioned on MBA.com) that may occur:
“In India some banks will not allow the debit cards to be used on the internet unless the merchant participates in Verified by Visa or MasterCard Secure Code. This requires that the customer enter a pin number. We do not participate in this program. Please contact your bank for assistance. Some banks may be willing to issue their customers a special onetime use card or lift the pin restriction so you can use it on our web site.”
As you can tell, the GMAT cost in India (and anywhere else) is definitely not cheap! Make sure you choose your initial test date wisely so that you have enough time to study as you reach for your target GMAT score.
The post How Much Are GMAT Fees In India? appeared first on Magoosh GMAT Blog.
