Preparing for standardized admission tests is no fun. Most people need to study for months in order to perform their best on standardized tests, and this is especially difficult for people who are students or are working full-time. Studying for standardized tests is even more difficult for people with student loans, since individuals must typically shell out thousands of dollars in order to take exam prep classes or purchase study aids. However, paying for test prep classes can save you money in the long run, since a higher standardized test score can lead to more scholarships offers.
I had some financial issues while preparing for the Law School Admission Test, and this restricted me from studying effectively for the exam. In order to be admitted to most law schools, you need to take the LSAT, and secure a decent score. One’s LSAT score is a major factor law schools assess when making admission decisions. For this reason, most people take test prep classes in order to have the best possibility of succeeding on the LSAT.
When I was studying for the LSAT as a junior and senior in college, I did not have the money to pay for test prep classes, and I did not understand how paying for test prep classes can save you money in the long run. I borrowed the least amount of loans possible for college, and I usually only had a few hundred dollars in my bank account at any given time while I was an undergraduate. A test prep class for the LSAT (and other tests) costs thousands of dollars, and I did not want to borrow money to cover this expense.
Instead, I simply used a bunch of used LSAT prep books I was able to find online on the cheap. I also used some hand-me-down LSAT materials that my older brother bought six years prior when he was studying for the LSAT. The books taught me the basics of the LSAT, but since most of the books had already been marked up by prior users, I was never able to fully utilize these materials. In addition, some of the books were pretty old, so I’m not sure the questions tested in the books were similar enough to the questions on the LSAT.
A major test prep company offered an LSAT class on the campus of the college I attended. My friends who took this course told me that the classes were engaging and very informative. The instructors of the class were able to explain test-taking skills in a way that is difficult to convey by reading a book. Of course, individuals who took this class had to dedicate a block of time each week for the course, but this kept people disciplined and on track to be prepared for the LSAT.
I definitely do not feel that I performed as well as I should have on the LSAT. My score on exam day was significantly lower than the scores I had been able to consistently achieve on practice tests. In addition, I saw some questions on exam day that were a lot different than the practice questions I answered while preparing for the test. Since I did not have enough money (or time) to take the LSAT again before applying to law schools, I was stuck with this lower score when competing for admission to law schools and merit scholarships.
Most of my friends who took a test prep class scored well on the LSAT. I definitely think that these individuals were a lot more confident going into exam day, and knew strategies that people like myself who merely studied with books did not know. It is difficult to measure the impact this test prep class had on my friends’ scores, but I definitely think they scored higher than they would have if they had just studied with books like I did.
From my own experience, paying for test prep classes can save you money in the long run, since this can increase the score you obtain on standardized tests. Law schools and some other graduate programs offer merit-based financial aid, and law schools consider standardized test scores when making scholarship determinations. A change of even a few points can make the difference between receiving tens of thousands of dollars in scholarships or not, and the sum of money at stake demonstrates how paying for test prep classes can save you money in the long run.
In addition, a better score on a standardized test (which is likely more achievable after taking a test prep class) can help you get admitted to a better school. Attending higher-ranked universities can impact your future job prospects and your ability to pay off student loans. In addition, attending better institutions can also provide you with resources to help minimize your student debt burden.
Some top law schools, for instance, offer need-based financial aid that might be available to you if you are admitted to such an institution. In addition, some law schools and other graduate programs will pay the student loans of alumni who enter the public sector. Even if a higher test score might not guarantee you merit aid, a higher score might ensure you are admitted to a better school that might offer other benefits.
All told, this website has already discussed a number of ways you can cut expenses and save money while paying off student loans. However, paying for test prep classes can save you money in the long run. Not only will test prep classes improve your chances of being admitted to a top university, but it will also increase the likelihood you will receive financial assistance as well.