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When most people think about the cost of getting an MBA, tuition, living expenses, and textbooks usually come to mind first. But there’s another set of costs that adds up quickly: MBA application fees.
Most top business schools charge between $250 and $275 per application, with the average hovering around $200. If you’re applying to more than one school (which many competitive applicants do), that’s well over $1,000 to $1,500 in fees before you even get an interview.
And that’s just the start. There’s also the cost of GMAT or GRE exams ($220-$275), transcript requests, interview prep, and possibly even travel for in-person interviews or campus visits. For international applicants, add the TOEFL or IELTS. What seems like a few small payments can quickly become a major investment, all before you’re even admitted.
The good news? Many MBA programs offer fee waivers for qualified applicants, and some even allow you to apply for free under specific conditions. In this article, we’ll walk through typical MBA application fees, how much top schools charge, and five smart ways to save money or apply for free, especially if you're applying to schools within the M7 MBA programs.
MBA Application Fee for the M7 Programs (2025 Admissions)
| Business school | Application fee |
| UPenn Wharton | $275 |
| Stanford GSB | $275 |
| Harvard Business School | $250 |
| MIT Sloan School of Management | $250 |
| Booth School of Business | $250 |
| Columbia Business School | $250 |
| Kellogg School of Management | $250 |
Sample MBA Application Cost Breakdown (2025)
Here's a sample breakdown of common expenses for a typical applicant targeting 3 to 5 top business schools in 2025:
| Expense | Estimated Cost (USD) |
| GMAT Prep Course | $1,699 |
| GMAT or GRE registration | $275 |
| Official score reports (5 schools) | $175 |
| MBA application fees (3–5 schools) | $775-$1,275 |
| TOEFL iBT (U.S., online) | $255 |
| School-specific assessments (e.g. video interview) | $100–$200 |
| Transcript requests & shipping | $50–$100 |
| Resume editing / essay review tools | $100–$300 (varies) |
| Interview travel (optional/varies) | up to $500 |
| Total Estimated Cost | $3,429–$4,524 |
5 Ways to Secure an MBA Application Fee Waiver
Applying to MBA programs is expensive, but if you know where to look, you can cut down those costs significantly. Many top business schools offer application fee waivers, and getting one isn’t just about saving money, but also about being smart and strategic with your application plan. Here’s how you can do it:
1. Use Your GMAT or GRE Score Strategically
Some schools offer application fee waivers if your standardized test score exceeds a certain threshold, typically 700+ on the GMAT or an equivalent GRE score.
Reach out to the admissions office before you submit your application and ask if they offer waivers based on strong academic or test performance. Frame it professionally: you're a serious candidate, and you're asking the right questions.
2. Apply Through The Consortium for Graduate Study in Management
If you’re an underrepresented minority in business and committed to diversity and inclusion, applying through The Consortium can be a game-changer. Not only does it provide one application for multiple top MBA programs, but you’ll also receive automatic fee waivers at participating schools.
Make sure your mission alignment with The Consortium is crystal clear in your application (schools take that seriously).
3. Financial Hardship
Most business schools offer application fee waivers for applicants facing financial challenges. If you're a current student, unemployed, or experiencing other financial stressors, you may qualify.
Don’t be shy about this! Fee waivers exist to make the MBA process more accessible. Schools may ask for documentation like tax returns or a letter explaining your situation, so be prepared and proactive.
4. U.S. Military Status or Ethnic Minority Background
Many schools waive application fees for active-duty military, veterans, and applicants from historically underrepresented racial or ethnic backgrounds. This is often tied to the school’s broader mission to increase access and equity in business education.
Check the admissions or diversity section of each school’s website, or email admissions directly. Some schools waive fees automatically, others require a short request.
5. Join Management Leadership for Tomorrow (MLT)
If you’re a member of MLT’s MBA Prep Program, most M7 and top-20 schools will waive your application fee. MLT partners directly with admissions offices, and your participation signals you're serious and well-prepared.
Mention your MLT status early in your conversations with admissions, and leverage the MLT network for additional insights, coaching, and interview prep.
Don’t miss out on important updates by staying on track with more information about the MBA application by reading the articles below:
- The Ultimate MBA Application Guide
- MBA Application Deadlines of the Top 25 Business Schools (2024-2025) | Leland
- The MBA Application Timeline—With Chart
- An Overview of the MBA Admissions Rounds: When to Apply to Business School
- How to Get Into a Top MBA Program: The Expert Guide
MBA Application Fee Waiver Policies of Business Schools in M7 Programs
1. UPenn Wharton
Wharton offers application fee waivers for its MBA program under specific circumstances. The standard application fee is $275 and is non-refundable.
Eligibility for Fee Waivers:
1. U.S. Military Applicants:
- Active duty or veteran applicants are eligible.
- To apply, follow the instructions within the application regarding military service.
2. Applicants Facing Extreme Financial Hardship: If the application fee presents a significant financial burden:
- Begin your application.
- Email feewaiver@wharton.upenn.edu detailing your financial need.
- Be prepared to provide supporting documentation upon request.
3. Submit your fee waiver request at least 15 days before your application submission. Requests after the application deadline for your chosen round will not be considered.
For applicants to the Moelis Advance Access Program (Wharton's deferred admission program):
- The application fee is $100.
- Active-duty military personnel, veterans with an honorable discharge, and those for whom the fee poses a financial burden can request a waiver.
- For inquiries or to request a waiver, email mba-advanceaccess@wharton.upenn.edu.
Learn more about UPenn Wharton here: The Wharton School MBA: Acceptance Rate, Deadlines, Cost, Requirements, & Program Overview
2. Stanford GSB
Stanford GSB offers several application fee waivers and reductions for its MBA program to accommodate applicants facing financial constraints or those who meet specific eligibility criteria. The standard application fee is $275.
If you're in your final year of a bachelor's degree or a joint bachelor/graduate program (with your degree conferred between October 1, 2024, and September 30, 2025), or currently enrolled in a graduate program that you began immediately after your undergraduate studies, you qualify for a reduced application fee of $100.
Military Service Fee Waiver
The application fee is waived for:
- Active-duty U.S. military service members
- U.S. military veterans who have been honorably discharged
- Individuals serving in the U.S. military reserves
To obtain this waiver, you must upload one of the following documents when prompted in the online application:
- A proof-of-service statement or letter dated within the last 45 days
- A copy of your most recent enlistment contract dated within the last 365 days
- A copy of your Tuition Assistance (TA) form showing the date of separation (if applicable)
- A copy of your most recent leave and earnings statements showing estimated time of separation, dated within the last 45 days
Alternatively, you may submit other documentation indicating your current military status and the date you will be separating from that status.
Note: Do not submit a copy of your military ID.
Sí Se Puede Latin America Fee Waiver
Applicants from Latin America including Puerto Rico, the Caribbean islands, Central America, Mexico, and South America (including Brazil), who earn less than U.S. $40,000 per year will automatically have their MBA application fee waived for the 2024-2025 application year upon submission. The salary will be converted to U.S. dollars based on exchange rates as of June 13, 2024.
Need-Based Fee Waiver
If paying the application fee poses an extreme financial hardship, you may apply for a need-based fee waiver. To be eligible, you must:
- Hold a U.S. bachelor's degree or international equivalent (exceptions are rare)
- Have taken the required test(s) or have proof of scheduled testing before the round deadline (GMAT or GRE, and English language proficiency test if applicable)
- Start an MBA application for direct admission (defer-eligible applicants qualify for a reduced fee)
- Enter your primary citizenship
- Add your current job and employer information in the Professional Experience section
- Upload a current resume
After completing these steps, you must submit an additional form and supporting documentation. Contact admissions-mba@stanford.edu for further instructions. All materials are due by April 3, 2025. Note that waivers are offered on a first-come, first-served basis, and Round 3 fee waiver requests will not be considered after this date.
Learn more about Stanford GSB here: Stanford GSB MBA: Acceptance Rate, Deadlines, Cost, Requirements, & Program Overview
3. Harvard Business School
The MBA application fee is $250 and is nonrefundable. However, there are two exceptions:
- Active duty U.S. military applicants do not need to pay the fee (you’ll get more info after starting your application).
- Applicants facing genuine financial hardship can request a need-based fee waiver by filling out a form available once you begin the application.
For those applying through the 2+2 Deferred Admissions program, the application fee is reduced to $100.
Learn more about Harvard Business School here: Harvard Business School MBA: Acceptance Rate, Deadlines, Cost, Requirements, & Program Overview
4. MIT Sloan
MIT Sloan School of Management offers application fee waivers for its MBA program to support candidates who may face financial challenges or who have participated in specific programs.
Eligibility for Fee Waivers
You may be eligible for a fee waiver if any of the following apply:
- Current Peace Corps Members
- Current Teach for America Members or Alumni
- Forte MBA Launch Participants
- Veteran or Active Duty U.S. Military Personnel
- Applicants for whom paying the application fee would result in insurmountable financial hardship
Participants from the following programs, conferences, and fellowships are also eligible for an application fee waiver:
- MIT Summer Research Program (MSRP General)
- MIT Summer Research Program (MSRP Biology/BCS/CBMM)
- On-Campus MIT ACCESS Program
- MIT Media Lab Open House Travel Grant Recipients
- MIT OME Laureates and Leaders
- MIT OME The Standard
- MIT Emergent Behaviors of Integrated Cellular Systems (EBICS)
- Harvard-MIT Health Sciences and Technology (HST) Summer Institute
Note: MIT Sloan cannot grant retroactive fee waivers if the application fee has already been paid online. If you are submitting a request, please wait to hear back from the admissions office before making any payment.
For more detailed information and to access the application, please visit the MIT Sloan MBA Admissions How to Apply page.
Learn more about MIT Sloan here: MIT Sloan MBA: Acceptance Rate, Deadlines, Cost, Requirements, & Program Overview
5. Chicago Booth School of Business
You may apply for an application fee waiver if you are a/an:
- Full-time enrollee in an undergraduate program (non-University of Chicago student)
- Summer Business Scholar graduate
- Teach for America participant, instructor, or alumnus who completed service within the past five years
- AmeriCorps or Peace Corps participant or alumnus who completed service within the past five years
- Chicago Scholars alumnus (chicagoscholars.org)
- Deferred Action for Childhood Arrivals (DACA)
- Forté MBALaunch participant (completed program)
- Jack Kent Cooke Foundation Scholarship recipient
- Posse alumnus
- QuestBridge alumnus
- Riordan fellow
- ROMBA event attendee
- Service to School participant
- Toigo Fellow
- Active-duty military or military veteran
- University of Chicago employee
- University of Chicago current student (all degree-granting programs)
Note: Application fee waivers are granted under conditions that may vary each academic cycle. Chicago Booth does not grant fee waivers on the basis of financial status.
Learn more about Chicago Booth here: Chicago Booth — MBA Program & Application Overview
6. Columbia Business School
Columbia Business School offers application fee waivers for its MBA program to certain eligible applicants. The standard application fee is $250, but waivers are available under specific circumstances.
You may be eligible for a fee waiver if you are:
- A full-time student
- An active-duty U.S. military personnel
- An eligible displaced person
- A current member of the Peace Corps
- A current member of the Teach For All network partners
Please note that proof of current service or status is required for these categories.
How to Request a Fee Waiver
1. Before Submitting Your Application:
- Create or log into your CBS application account.
- Navigate to the "Review" page.
- Access the Fee Waiver Request form.
- Provide the necessary proof of eligibility and explain your need for a fee waiver.
2. If You've Already Submitted Your Application:
- Email apply@gsb.columbia.edu to request a Fee Waiver Request form.
- Include your proof of eligibility and an explanation for your request.
Note: Allow up to one week for an update on your fee waiver request status.
Learn more about Columbia Business School here: Columbia Business School MBA: Acceptance Rate, Deadlines, Cost, Requirements, & Program Overview
7. Northwestern Kellogg School of Management
Northwestern Kellogg offers application fee waivers to applicants who meet any of the following criteria:
- Active Duty U.S. Military Applicants or U.S. Military Veterans: Active duty applicants should provide either a recent pay stub or a letter from a commanding officer to verify their status. Veterans must submit a copy of Form DD-214.
- Candidates Employed by Specific Organizations within the Past Three Years
- Teach For America
- Title 1 Schools
- AmeriCorps
- Peace Corps
Applicants should provide supporting documentation verifying their employment with these organizations.
Learn more about Northwestern Kellogg here: Northwestern Kellogg MBA: Acceptance Rate, Deadlines, Cost, Requirements, & Program Overview
Bottom Line
Applying to M7 business schools is a serious investment, and not just in your future, but in upfront costs too. With application fees ranging from up to $275 per school, the total price tag can quickly climb if you're applying to multiple programs.
But the good thing is that most M7 schools offer fee waivers based on financial hardship, military status, or participation in specific fellowships and nonprofits like The Consortium or MLT.
Be sure to check each school’s fee waiver policy closely, there might be many opportunities you don’t want to miss! Taking advantage of them can help you apply to your top MBA programs without overspending. Good luck!
FAQs
How much are MBA application fees?
- Application fees for top MBA programs typically range from $200 to $275, depending on the school.
What are MBA application fees?
- MBA application fees are non-refundable charges that cover the administrative costs of processing and reviewing your application.
Which M7 school has the highest application fee?
- Stanford GSB and Wharton have the highest application fees among M7 schools, each charging $275.
How much is the Harvard MBA application fee?
- $250. Harvard Business School charges a non-refundable application fee of $250 for its MBA program.
Can you get MBA application fee waivers?
- Yes. Many schools offer fee waivers for applicants who:
- Demonstrate financial hardship
- Are active-duty U.S. military or veterans
- Participate in programs like Teach For America, Peace Corps, or AmeriCorps
- Are members of organizations such as Forté Foundation or The Consortium
Eligibility criteria and application processes vary by school.
How much does the Wharton MBA program cost?
- For the 2024–2025 academic year, Wharton's estimated total cost of attendance is $127,716, which includes:
- Tuition: $84,830
- University Fees: $4,670
- Living Expenses: $33,804
- Health Insurance: $4,412
How much is the Stanford MBA application fee?
- $275. Stanford Graduate School of Business charges a non-refundable application fee of $275.
What is the lowest MBA application fee?
- Some schools offer reduced or waived application fees under certain conditions. For example:
- Harvard's 2+2 Deferred Admission Program has a reduced fee of $100.
- MIT Sloan offers fee waivers to eligible applicants, including those who have participated in specific programs or who demonstrate financial hardship.
Always check individual school websites for the most current fee information and waiver eligibility.
