Details About the Voucher Program of GMAT
How can the GMAT Voucher Program Assist You
In order to provide admission to top quality management and business institutions, the Graduate Management Admission Council conducts GMAT (Graduate Management Admission Test) to screen potentially talented students who have the flair to make it into the business world. Owing to the high exam fees many of the candidates, especially those who are economically disadvantaged, find the exam fees of U.S. $250 a bit too expensive. In order to help such potential but financially disadvantaged candidates GMAC has introduced the voucher programs.
- What is Voucher Program?
Graduate Management Admission Council (GMAC) provides vouchers to certain organizations which have been considered eligible by the GMAC. These organizations help the appropriate candidates with the testing fees.
- What are the conditions to purchase Voucher?
Vouchers can be purchased by those organizations, willing to accept the scores with the programming code. Then again, not everyone is entitled to accept scores. In order to receive the scores, the institutions should be able to grant degrees in business and management at the graduate-level. Tokens can also be purchased by institutions which provide scholarships, fellowships, or any other type of aids to students pursuing graduation in business or management studies.
- Can a Candidate purchase the Voucher directly?
No, GMAC does not allow the candidates to purchase the vouchers directly, it has to be done through an institution. Eligible institutions have to fill in the voucher order form to purchase the voucher. Candidates who are issued the documents can take one test with a choice of five schools as score recipients.
- How much does the Voucher cost?
The vouchers are available in different range of $50-$250 in $50 increments. The institutions have to purchase at least a minimum of 10 vouchers. Payments for these are made through credit cards only. If an institution wants to purchase less than 10 vouchers or they are unable to make payments through credit card then they can get further information on it by contacting the firstname.lastname@example.org
- What is the advantage of purchasing the Voucher?
If an institution is eligible to purchase them, one of the biggest advantage is that it will now have access to a free online database that allows the qualified candidates to find your school.
It will also have access to reports and research services that will help it make the appropriate admission decisions. It can also advertise itself at the GMATCH, a virtual meeting ground for both schools and potential candidates to connect and network online.
Besides, it can also advertise recruiting events on mba.com, the official website, which is accessed by candidates from around the world.
In other words you can raise the bar for admissions to your school by allowing students of calibre to find your school.
Vouchers are not available through GMAC but only through some scholarship organizations such as Fulbright Foundation and the Edmund S. Muskie Graduate Fellowship Program. These organizations will issue the documents to candidates selected in their programs.
Most of the top business schools have also started accepting GRE scores and the fees to take the GRE are lower. Hence, most candidates prefer taking the GRE to GMAT unless, the school of their choice insists on the GMAT scores. The introduction of the voucher program by the GMAC is considerably a new feature which is still in its nascent stage. Hopefully this new program will attract the candidates back to taking the test which was once the sole indicator of student’s performance in the management and business education.