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Changes to GMAT Rescheduling and Cancellation Fees/Rules

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fauji
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Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   Updated on: 19 Sep 2019, 23:36
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Hi Everyone. Latest Announcement!
Got a mail from mba.com regarding rescheduling and cancellation charges update:

From 26 Sep 2019, Pricing will be tier based:


The New Tiered Pricing System
It will be priced in following tiers:
- 1 to 14 days prior to appointment
- 15 to 60 days prior to appointment
- More than 60 days prior to appointment


Reschedule Fees:
  • 1 to 14 days prior to appointment: $150
  • 15 to 60 days prior to appointment: $100
  • More than 60 days prior to appointment: $50


Cancel Fees:
  • 1 to 14 days prior to appointment: $200 ($50 refund)
  • 15 to 60 days prior to appointment: $175 ($75 refund)
  • More than 60 days prior to appointment: $150 ($100 refund)


Take a look at the FAQs for more details:
https://www.mba.com/frequently-asked-qu ... ce-changes

Will update with further details.

Originally posted by fauji on 19 Sep 2019, 10:09.
Last edited by bb on 19 Sep 2019, 23:36, edited 4 times in total.
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Re: Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   19 Sep 2019, 10:49
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Official Announcement

You spoke and we listened! Based on test-taker feedback, we are changing the fee structure for rescheduling and cancelling GMAT™ appointments. We want to give you more control and flexibility, and reduce the cost for those who need to make last-minute changes.

The New Tiered Pricing System
Effective September 26, 2019, GMAT appointment rescheduling and cancellation fees will be priced in three tiers. The pricing tiers are based on how far in advance of your GMAT appointment you are making the change:
  • One to 14 days prior to appointment
  • 15 to 60 days prior to appointment
  • More than 60 days prior to appointment

Key Benefits to You
  • You will no longer be charged the full exam fee if you cancel more than 24 hours in advance.
  • If you make a change more than 60 days prior to your appointment, your costs will be lower.
  • Thinking of cancelling? Consider rescheduling instead to save money and keep your momentum going.

Please note: No appointment changes can be made or modified within 24 hours of the exam appointment time. The no-show policy has not changed. If you do not show up, you forfeit your entire exam fee.

Questions & Additional Information
For more information about the new tiered policy, please read our FAQs. Further assistance can be provided by GMAT Customer Service by phone or live chat.

Yours Sincerely,
The GMAT Team
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Re: Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   19 Sep 2019, 14:19
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Dear All,

According to MBA.com, the following info was just posted:

"GMAT Reschedule and Cancel Price Changes

Based on feedback we have received from GMAT test takers, we have restructured the fees associated with rescheduling and cancelling GMAT appointments into a tiered pricing system. The goal of this restructuring is to provide more flexibility for test takers and reduce the financial burden for those who need to make last-minute changes to their appointment. Effective September 26, 2019, appointment rescheduling and cancellation fees will be structured in three tiers based on your scheduled appointment date:

Reschedule Fee Tiers:

1 to 14 days prior to appointment: $150
15 to 60 days prior to appointment: $100
More than 60 days prior to appointment: $50

Cancel Fee Tiers:

1 to 14 days prior to appointment: $200 ($50 refund)
15 to 60 days prior to appointment: $175 ($75 refund)
More than 60 days prior to appointment: $150 ($100 refund)
The no-show policy has not changed. No appointment changes can be made or modified within 24 hours of the exam appointment time and candidates who do not show up for the test will be responsible for the full exam fee.

You may be participating in a special program where some fees may differ from the ones outlined above. Please refer to your offer document for the information.

Per regulatory requirements, some markets including the EU have local refund policies, please see Location specific pricing and regulations. Please contact GMAT Customer Service by phone or by live chat via mba.com. Call-center hours and contact information can be found on mba.com.

Please visit mba.com for the most updated GMAT fees."

Cheers.

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Re: Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   Updated on: 19 Sep 2019, 22:45
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The New Tiered Pricing System

Effective September 26, 2019, GMAT appointment rescheduling and cancellation fees will be priced in three tiers. The pricing tiers are based on how far in advance of your GMAT appointment you are making the change:

One to 14 days prior to appointment
15 to 60 days prior to appointment
More than 60 days prior to appointment
Key Benefits to You

You will no longer be charged the full exam fee if you cancel more than 24 hours in advance.
If you make a change more than 60 days prior to your appointment, your costs will be lower.
Thinking of cancelling? Consider rescheduling instead to save money and keep your momentum going.
Please note: No appointment changes can be made or modified within 24 hours of the exam appointment time. The no-show policy has not changed. If you do not show up, you forfeit your entire exam fee.

So, Since GMAT is changing it's rescheduling policies,
Will the cost be higher than the present $60? Should we wait till 26th to reschedule or the current option is more beneficial? There are lot of questions unanswered. I want to reschedule my exam which is scheduled on 5th October 2019, And now i'm very skeptic about it. Need your valuable inputs on this bb OfficialGMAT

Originally posted by Abhi077 on 19 Sep 2019, 22:25.
Last edited by bb on 19 Sep 2019, 22:45, edited 2 times in total.
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Re: Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   19 Sep 2019, 22:34
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Thank you for posting. This is a big one!

Very interesting. Did you not include the prices or did GMAC somehow forgot to include them?

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Re: Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   19 Sep 2019, 22:43
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Well, I received a mail mentioning about the changes when i was just about to reschedule my exam. They haven't mentioned any prices in the mail , I think they will reveal the tier pricing on 26th September 2019, If the cost of rescheduling the exam within 7 days $ 250 has reduced(it's 60 $ 7 days before) , I'm afraid the cost of rescheduling before 0- 14 days would be higher than 60$. I'm so confused right now. should I wait or should I reschedule. Hope GMAC gives a little more clarification
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Re: Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   19 Sep 2019, 22:47
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It’s pretty simple - they already gave you an answer. You just have to read for it and use inference. ;)

Quote:
If you make a change more than 60 days prior to your appointment, your costs will be lower.


If the fees are lower rescheduling 60 days out, that means the fees are the same or higher rescheduling less than 60 days out under the new policy. Therefore, If changing/canceling less than 60 days out by September 26, you probably better off to cancel or reschedule before then.



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Re: Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   19 Sep 2019, 23:01
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Hi bb, Abhi077

I have posted here yesterday.

https://gmatclub.com/forum/gmat-exam-re ... l#p2361798

Updated FAQs at mba.com has all details:

https://www.mba.com/frequently-asked-qu ... ce-changes
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Re: Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   19 Sep 2019, 23:12
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This is a bring major price hike. Oddly enough, it is not yet reflected on the MBA.com pricing page.

But from $60 to $150 is quite a jump!
This seems like a change made as the result of feedback from management test-takers and a big revenue opportunity improvement to help make us save you money. :facepalm:

And can someone please tell me who the heck books their appointment more than 2 months out??? WHO DOES THAT?



P.S. Thank you all for posting. I have merged 3 topics into 1 to keep things orderly.
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Re: Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   19 Sep 2019, 23:17
GMAC's new rules to loot applicants!
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Re: Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   19 Sep 2019, 23:24
The prices can be found here under FAQ at MBA.com. just click the link below;

https://www.mba.com/frequently-asked-qu ... i=77048839


There is a separate fee for EU applicants you will see the link on the page above.

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Re: Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   19 Sep 2019, 23:26
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Hopefully this change will make people smarter and more responsible. Here are my suggestions:

1. Do not book unless you are certain you will be ready to take the test. There is no point in booking your test appointment early. Instead, do it 2-4 weeks before, when you are close with your score. It is rare that appointments fill up and you can always keep checking daily and hourly (let someone else pay the change fees). Worst case, you can always find a city nearby and take a "GMAT Vacation" - I did that and I feel it worked out great as it allowed me to relax and get rid of distractions before the test.

2. GMAT Fee is still $250. It has been $250 for about 20 years now, which with inflation, it has been getting cheaper every year, so take advantage of the fee that is not changing and make sure you pay for your test only once!
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Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   Updated on: 19 Sep 2019, 23:41
I'm not the most politically correct person you'll ever meet, and I have no shame in saying GMAC are a bunch of useless ....

If they want to start charging more they should upgrade the **** interface of the software and ensure their testing centres have decent conditions - screens/ cleanliness/ noise etc.

Then again who's going to read this comment and take action? No one. So I guess there's not much point to complaining.

GMAC: "we heard what you have to say, so screw the double fees"

Originally posted by dcummins on 19 Sep 2019, 23:37.
Last edited by bb on 19 Sep 2019, 23:41, edited 1 time in total.
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Re: Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   19 Sep 2019, 23:42
bb wrote:
Hopefully this change will make people smarter and more responsible. Here are my suggestions:

1. Do not book unless you are certain you will be ready to take the test. There is no point in booking your test appointment early. Instead, do it 2-4 weeks before, when you are close with your score. It is rare that appointments fill up and you can always keep checking daily and hourly (let someone else pay the change fees). Worst case, you can always find a city nearby and take a "GMAT Vacation" - I did that and I feel it worked out great as it allowed me to relax and get rid of distractions before the test.

2. GMAT Fee is still $250. It has been $250 for about 20 years now, which with inflation, it has been getting cheaper every year, so take advantage of the fee that is not changing and make sure you pay for your test only once!



Thanks bb

What about people, like me, who already have an exam scheduled - 30th october in my case?
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Re: Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   19 Sep 2019, 23:44
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dcummins wrote:


Thanks bb

What about people, like me, who already have an exam scheduled - 30th october in my case?


Well... you can change it on the cheap side ahead of the 26th of Sept.
P.S. I guess we now know who schedules their tests 60 days out ;)
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Re: Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   19 Sep 2019, 23:48
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bb wrote:
dcummins wrote:


Thanks bb

What about people, like me, who already have an exam scheduled - 30th october in my case?


Well... you can change it on the cheap side ahead of the 26th of Sept.
P.S. I guess we now know who schedules their tests 60 days out ;)



lol Its 41 days out to be exact.

I scheduled it a week ago because LBS wanted to see a reschedule booked.

I'll look at it.
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Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   19 Sep 2019, 23:52
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With this kind of optimization and improvement trajectory, my prediction is that next year testtakers will have to click banner ads to advance to the next question on the test and potentially sign up for some free trials to see the score ;)

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Re: Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   20 Sep 2019, 04:48
fauji wrote:
Hi Everyone. Latest Announcement!
Got a mail from mba.com regarding rescheduling and cancellation charges update:

From 26 Sep 2019, Pricing will be tier based:


The New Tiered Pricing System
It will be priced in following tiers:
- 1 to 14 days prior to appointment
- 15 to 60 days prior to appointment
- More than 60 days prior to appointment


Reschedule Fees:
  • 1 to 14 days prior to appointment: $150
  • 15 to 60 days prior to appointment: $100
  • More than 60 days prior to appointment: $50


Cancel Fees:
  • 1 to 14 days prior to appointment: $200 ($50 refund)
  • 15 to 60 days prior to appointment: $175 ($75 refund)
  • More than 60 days prior to appointment: $150 ($100 refund)


Take a look at the FAQs for more details:
https://www.mba.com/frequently-asked-qu ... ce-changes

Will update with further details.



this is not so cool.
BelalHossain046 mjzakaria musunna
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Re: Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink] New post   23 Sep 2019, 12:23
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BUMP - for anyone who has not seen it. Only 4 more days left to reschedule at the OLD "cheap" $60 rate
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Re: Changes to GMAT Rescheduling and Cancellation Fees/Rules [#permalink]
23 Sep 2019, 12:23

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