Scholarship program could help MBA candidates earn higher GMAT scores

Scholarship program could help MBA candidates earn higher GMAT scores

To combat the rising cost of masters degree programs, several organizations have begun to offer financial aid packages to encourage budding business professionals to further their education.

For example, Beat the GMAT - an online platform for business school advice and preparation - has opened the application process for its annual scholarship program, which is intended to help students succeed on the Graduate Management Admission Test (GMAT).

A total of six prospective students will be selected to receive the awards, which are estimated to be worth $8,500 in total. The financial aid package includes a $250 waiver to cover the test's examination fee and a full GMAT test prep course.

Eric Bahn, a graduate of Stanford University's MBA program, founded the organization four years ago to benefit students who are planning to enroll in campus-based or online MBA programs. He said that the financial aid packages are his way of "giv[ing] back to the community that supported [him]" when he was engaged in the application process.

To date, the program has disbursed $60,000 in scholarships to 28 students. May 20 is this year's deadline for eligible candidates to submit their application materials.

By Stefanie Hughes