Planning your application budget

I have already discussed the necessary steps and elements to applying to graduate school, but I think it's important to go over the money involved in this process. When I started thinking about graduate schools, I didn't realize how much money would be required just to apply.

GRE costs

One of the biggest factors I underestimated when thinking about cost was how expensive it is to take the GRE. It costs $160 to take the GRE. I spent $35 on a book that helped prepare me for the test. If you send your GRE scores to more than four schools or if you don't send them while at the test center, the cost is $23 per school. Taking the GRE and preparing it cost me $195, but if I had chosen to purchase more preparation materials or send more scores, it could have easily cost much more.

Application fees

The costs to apply to a grad school can quickly add up. When I applied to undergrad schools, all of the fees were waived if I applied online. This was not the same for grad schools. It cost me $30 to apply to Kent State University, $40 to apply to The Ohio State University and $50 to apply to Ohio University. All together, I spent $120 applying to grad schools.

Transcript expenses

When applying to grad schools, I never factored in the cost of sending transcripts. I thought transcripts were free because I already pay to go to school at Mercyhurst. I was wrong. It costs $5 to send each transcript. Even though I only applied to three schools, I had to send four transcripts because Ohio State required two. Now that I have accepted Ohio State's offer, I will need to send another transcript once the year is over showing that I graduated. Once I send this last transcript, I will have spent a total of $25 just for mailing in official transcripts. This fee would be more expensive if I had credits from another college or university.

Total costs

I spent $340 applying to graduate schools. While this is a lot of money, it could have easily been more expensive. By only applying to three schools, I was able to save on transcript fees, application fees and the cost of sending my GRE scores.

How to save

In order to make the best use of your money, I suggest you thoroughly research a school before applying to it; there's no point in applying to a school that doesn't offer your program. Also, limit the number of schools you apply to. Finally, fully prepare for the GRE before you take it. You're better off buying a $35 preparation book than paying another $160 to retake the test.