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Vigneshwaar
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GMAT 1: 760 Q50 V44 (Online)
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Joined: 30 Nov 2009
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Schools: HBS - Class of 2005
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Vigneshwaar
Joined: 22 Jan 2020
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Hi Vigneshwaar:

Picking up for Karen here (we are a highly collaborative team!)...

The additional $300 cost to potentially win at least $5K (odds by your own estimation) is worth it. The cost-benefit analysis is clear on the $ front. As for your time, that's up to you.

That said, I do not think the 20 additional points on the GMAT are going to be the reason you end up getting the scholarship. Karen is spot on, the schools will take into account many other aspects of your background. You have already achieved a high threshold. It's almost important to recognize that at a certain point, the GMAT is just a test. It is not a representation of any accomplishment beyond your performance for three hours in a testing center.

If you are really focused on getting into a program that offers you a promising financial aid package, you may want to add another school or two to your list. The school could be lower ranked, which may increase your odds of getting a compelling scholarship. Additionally, simply applying to more schools will also likely improve your odds of getting one school to offer something to your liking. Paraphrasing Gretzky, the more shots you take on goal the more chances you have to score, right?

Good luck and let us know if the Admissionado team can be of any help.

Regards,
Seth
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Vigneshwaar
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That does make a lot of sense. Thanks a lot for both of your perspectives on this situation! I'll bomb on ahead with the Gretzky strategy and focus on the other areas of the app now. :)