Details About the Voucher Code of GMAT
How to Get a GMAT Voucher Code
When registering for GMAT test on the official website www.mba.com you will be asked for a Voucher Code on the registration page. This is a fairly recent phenomenon and while it may confuse or surprise you, there is no need to hit the panic button. Vouchers are a new facility launched by the Graduate Management Admission Council (GMAC) for the benefit of the test takers. To start with, the codes are a part of the Voucher Program launched by GMAC to facilitate the financially disadvantaged candidates. Currently, the test fee is USD 250 which is considered a substantial amount of money in many nations and regions. While business schools and universities provide scholarships to the deserving candidates, they were unable do anything about the examination fees. The Voucher Program aims to empower the institutions to assist candidates who are able to demonstrate the financial need with the fees.
- The GMAC Voucher Program:
The GMAT is an examination to be taken by all candidates aspiring for a degree in management from the top business schools of the world. A high score in the test is necessary to maximize the applicant's chances in securing a place in the management programs offered by the top business schools. GMAC, the governing body for the test, recently launched the Voucher Program to help the economically disadvantaged candidates to take the exam at a reduced or no cost. The Voucher Program aims to aid applicants interested in pursuing a career in management by reducing the high cost of the exam. The examination fee is discounted through the code entered at the time of registration by the candidate.
- How to obtain GMAT Voucher Code:
The GMAC does not distribute the codes to the test takers directly. The Voucher code can be obtained by the business schools or institutions that grant graduate level degree in business management. Approved scholarship and fellowship providers for graduate business and management educations programs are also eligible to apply for Vouchers. The Voucher Program enables these eligible institutions to assist the candidates with the cost of the examination. The vouchers are available in denominations ranging from USD50 to USD250 at increments of USD50. The vouchers have to be purchased by the institutions from GMAC after placing an order on the official website www.mba.com. Each business school or an institution is entitled to a minimum of ten Voucher codes for a year. Institutions who wish to obtain less than the minimum of ten Vouchers have to write to GMAC separately. The payment can be made by credit card. Institutions that do not have a credit card to pay for the vouchers are required to write to GMAC separately.
The codes can be obtained from the business school you are applying to. An application has to be made to the university or school's financial aid office to avail the code. The application should be supported with relevant documents and enough evidence to show the financial need of the applicant. It is at the sole discretion of the financial aid office of the business school to determine if the applicant qualifies for the voucher code. As some scholarship or fellowship providers are eligible to provide the code, it is up to the candidate to research and apply for the voucher code to them. Each voucher code is valid for one examination only. The code must be entered during the time of registration.