How to Prep for Grad School Exams Without Going Broke?

Grad school is expensive enough, you shouldn’t have to drain your savings just to take the entrance exam.

Whether you’re facing the GRE, GMAT, LSAT, MCAT, or another test, prep materials and courses can cost hundreds or even thousands of dollars.

But here’s the truth: you don’t have to spend a fortune to score high.

This guide shows you how to prepare for grad school exams on a budget, without cutting corners.

You’ll learn where to find affordable, high-quality resources, how to create an efficient study plan, and which tools give you the best value for your time and money.

Why Budget Matters in Grad School Exam Prep

Let’s face it, between application fees, transcripts, test registration, and travel, applying to grad school adds up quickly. Test prep is one of the biggest optional costs, and unfortunately, it’s often overpriced.

But expensive doesn’t always mean better. Some students spend over $2,000 on prep courses and don’t improve their scores.

Others spend under $200 and hit their target scores because they studied smarter, not harder (or pricier).

Here’s how to be one of the smart ones.

Start With a Self-Assessment to Avoid Wasting Time and Money

Before you buy anything, figure out exactly what you need to work on. That way, you can avoid paying for full courses if all you really need is verbal practice or logic games.

• Take a free diagnostic test—many top test prep platforms offer one.
  
• Analyze your strengths and weaknesses.
  
• Estimate how much time you’ll need to study based on your baseline score vs. your target score.
  

This step prevents overspending and helps you pick resources that focus only on what matters.

Use Free and Low-Cost Resources First

Plenty of free resources are actually quite effective, especially early on in your prep journey.

• ETS, the maker of the GRE, offers two free official practice tests.
• LSAC provides full-length LSAT practice exams via LawHub.
• AAMC has some free MCAT sample questions and outlines.
• YouTube channels like Magoosh, LSAT Demon, or MCAT Bros give solid explanations without charging a cent.
  

If your budget is tight, start with these before committing to a full program.

Choose High-Value Test Prep Tools That Fit Your Budget

When you’re ready to upgrade your prep, choose programs that balance cost, quality, and efficiency.

For Targeted and Affordable GRE/GMAT Prep

One standout in affordable premium prep is Target Test Prep with the latest 20% off coupon you can now save $75 on your subscription instantly..

Known for its math-heavy courses, it offers detailed breakdowns, video explanations, and adaptive practice that’s ideal for students who need to boost quantitative scores without overpaying.

Their flexible monthly subscription model means you can cancel anytime, so you only pay for the months you actually need. For test takers on a budget, this kind of pay-as-you-go system can cut prep costs in half.

For All-in-One Structured Programs

If you want a complete, guided study experience, especially for tests like the MCAT or LSAT, then Kaplan remains a solid choice and you can now claim a 50% off Kaplan coupon and save $80 on your purchase.

With live and on-demand classes, question banks, and test-day simulations, Kaplan covers everything under one roof.

What sets Kaplan apart is their focus on score guarantees and bundled resources, so if you’re aiming for a highly competitive score and want structured accountability, their programs offer strong long-term value, even if they cost more upfront.

Make Your Own Study Schedule (And Stick to It)

You don’t need a coach to build a solid plan. Once you’ve picked your resources:

1. Set a target test date at least 2–3 months ahead.
2. Block off study hours weekly (aim for 10–15 hours if working/studying full-time).
3. Allocate specific days for content review, practice questions, and full-length tests.
4. Include weekly score checks and make adjustments.
   

Stick to your plan, and you’ll avoid the trap of extending your prep, and your spending, for months longer than necessary.

Avoid These Common Money-Wasters

Many students spend more than they need to because of poor planning or bad advice. Here’s what to avoid:

• Buying multiple full prep courses: Most content overlaps. Pick one and commit.
• Falling for upsells: Add-ons like flashcards, apps, or tutoring sessions aren’t always essential.
• Skipping official practice tests: These are free or low-cost and closest to the real thing, don’t ignore them.
• Over-preparing for months: More time isn’t always better. Study with intensity, not just duration.

Bonus Tips to Save Even More

• Use student discounts or coupons: Many test prep companies offer seasonal sales or promo codes.
• Buy used books or older editions of official guides, they’re still solid.
• Split access with a friend: Some online platforms allow multiple logins. Check their terms and share costs where possible.
• Join study groups: Free accountability plus resource sharing.

Final Thoughts: Prep Smart, Spend Less, Score Higher

You don’t need to go broke to get into grad school. With the right mix of free resources, targeted test prep, and a solid schedule, you can improve your scores without draining your bank account.

For budget-focused learners who want powerful results in less time, Target Test Prep is perfect for math-heavy exams like the GRE and GMAT.

If you’re looking for a full-service experience with expert instruction and structured paths, Kaplan offers solid value, especially for high-stakes exams like the MCAT and LSAT.