Test Costs and Fees
The process of applying to a graduate school involves multiple costs and fees you should be prepared to pay for. The type of graduate degree you are pursuing will greatly influence these costs based on the mandatory tests one must take for their field. From the initial application to the cost of living, it is important to know the various prices when applying for and enrolled in graduate school.
APPLICATION COSTS
$40-150 per application
The average price of a graduate school application is roughly $60. The costs can vary widely depending on the school and program. Application fees in schools such as Arkansas Baptist College and the University of California cost over $100, and others such as Walden University have no application fee.
*It is important to search your prospective universities site for their graduate program’s application cost*
GRE
GRE COST: $205
Many MBA, JD, PhD, MA, and MS degrees require you to take the Graduate Record Examinations (GRE). The GRE is a standardized admissions test used to assess your suitability for graduate-level study.
*It is important to search your prospective universities site for which test(s) are needed for your graduate program*
GMAT
GMAT COST: $250
Many graduate management programs, such as MBA programs, require the Graduate Management Admission Test (GMAT). This is a computer adaptive test to assess specific qualities you need for certain programs. Some universities, however, do not require this test, and others accept a GMAT waiver to cover the costs.
*It is important to search your prospective universities site for which test(s) are needed for your graduate program*
LSAT
LSAT COST: $200
The Law School Admission Test (LSAT) is a standardized test for Law Students which is administered by the Law School Admission Council. Its purpose is to assess your reading comprehension along with logical and verbal reasoning proficiency.
*It is important to search your prospective universities site for which test(s) are needed for your graduate program*
MCAT
MCAT COST: $315
The Medical College Admission Test (MCAT) is a computer-based exam required for admission into any medical school in the USA, Australia, and Canada. Designed for prospective medical students, the MCAT assess problem solving, critical thinking, written analysis, and knowledge of scientific concepts and principles. The Association of American Medical Colleges administers the test and provides waivers if you are in financial need.
*It is important to search your prospective universities site for which test(s) are needed for your graduate program*
TOEFL
TOEFL COST: $205
If you are a non-native speaking student enrolling in an English-speaking university, you will most likely need to take the Test of English as a Foreign Language (TOEFL) test. This standardized test evaluates English proficiency if you do not use English as your native language. Some universities do not require this test or can waive it.
*It is important to search your prospective universities site for which test(s) are needed for your graduate program*
COST OF LIVING
Graduate students usually face an increased cost of living versus undergraduate students. As a graduate student, you are considered independent and cannot receive Federal Pell Grants or other need-based state financial aid. This means that many graduate students must manage their income closer than undergraduate students.
Beyond schooling costs, graduate students may face many other financial responsibilities that should not be overlooked such as:
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Rent
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Utilities
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Food
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Transportation
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Childcare