GRE is pretty much a necessity for graduate school applications. You may get away with not taking it if you apply to humanities programs, but for STEM, almost every graduate school explicitly requires it. This can pose a financial challenge for those who belong to underprivileged families, especially students from the third-world.
The GRE costs $200+ in the U.S. While this may not seem much in the western world, it can constitute a full-month salary or more for people living in developing countries. The buck doesn’t stop here either; you also have to pay for GRE prep books or online courses.
GRE Prep books are the cheapest option next to not spending any money on prep-material. Most people would only stick to one prep book, and if they have the money, they might buy additional material.
The actual expense comes in when you want to take your GRE prep a step further. Those who want to ensure their success on the GRE will often opt for online courses. Guess how much that can cost? Anywhere from 100 dollars to 700 dollars.
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Why is taking the GRE so expensive?
While I admit that the GRE can be very expensive, I also have to acknowledge the cost of running such a big operation. Belonging to a developing country myself, I know the financial challenges people face in pursuit of education. Converting the U.S. dollar to my local currency is a horror show, given the steep rise in conversion rates year after year.
We also have to look at the cost that makes a standardized available to hundreds of countries across the world. ETS has thousands of employees working for it. There are several departments, each committed to a specific task. You can imagine the scope of such an operation where hundreds of thousands of people take the test.
Some of the major costs must come down to the thousands of test centers ETS has to rent worldwide. Then you have multiple proctors at these test centers who ensure fairness and security. Some workers execute administrative and clerical duties.
Add to that electricity, gas, internet, and insurance costs, and you get an idea of why the GRE costs 200 dollars.
In an ideal world, students wouldn’t have to worry about the application process’s costs. They wouldn’t even have to worry about the tuition cost of their programs. Alas, we don’t live in an ideal world, and education is expensive.
Why is GRE prep so expensive?
GRE prep can be $30, or it can be $700 or more, depending on which route you go. Most students who don’t have too much to spend settle for prep books. These books do a good enough job and usually cost around $10-$50. However, anyone who has gone through one of these books would know that a single book will not cut it.
Buying additional prep books is inevitable, or else you won’t feel satisfied with your prep. Even if you are happy with your understanding of the various GRE topics, you will still need extra practice questions and full-length tests.
Moreover, it’s not as if books are inherently cheap. If you want a comprehensive book-set for GRE like the Manhattan Prep 8 book set, it will cost you more. Then, If you want to practice official test questions by ETS, you will have to spend another $50 on the Official GRE Super Power Pack.
Before you know it, you would have spent close to $100 on books alone. Not to mention the $200 you are already spending on GRE itself.
So, why are GRE prep books so expensive? Honestly, I don’t think they are that expensive at all. Why is any book expensive? Because there are costs associated with publishing, R&D, authorship, printing, marketing, and distribution.
Prep books only cost a fraction if you compare prep books’ costs to that of a reputable online course. One of the most extensive and relatively affordable online GRE courses is offered by Magoosh.
However, things only worsen when you consider the more “premium” test-prep companies like The Economist. The Economist’s six-week GRE plan costs $350, and the all-inclusive plan costs close to $600. The same is also valid for Manhattan prep and a couple of other big fish in the industry.
What are my options if I am on a budget?
ETS’s GRE Fee Reduction Program
Many students are oblivious to this, but ETS does indeed have a fee reduction program. If you can demonstrate financial need via this Fee reduction form, then you are eligible for the program. Upon acceptance, you will get a 50 percent discount voucher that you can use to register for GRE.
To be eligible, College seniors must be:
- receiving financial aid through an undergraduate college in the United States, U.S. Territories or Puerto Rico, and
- a dependent, who has a FAFSA Student Aid Report (SAR) that shows a parental contribution of not more than $2,500 for the senior year, or
- self-supporting and have a SAR that shows a contribution of not more than $3,000 for the senior year
Unenrolled college graduates must:
- have applied for financial aid, and
- have a SAR that shows a self-supporting status and a contribution of not more than $3,000
However, beware that this the first-come-first-serve sort of deal, and there are a limited number of vouchers every year.
Cheapest Online GRE Course
If you can’t afford expensive online courses but still want to be taught by someone else, consider GREGMAT. GREGMAT is an extremely affordable online course that costs only $5/month. You get access to hundreds of pre-recorded videos, verbal tools, and many other resources. You can also take live classes every weak and ask questions directly from the instructors. While GREGMAT is far from a course like the Economist, it is still a sublime resource for those who lack the budget for premium courses.
Another thing you can do is buy used GRE prep-books online. You can search on various forums as well where test-takers either sell or give away their prep material for free.