4 Predictions for 2016: Trends to Look for in the Coming Year

Can you believe another year has already gone by? It seems like just yesterday that we were taking down 2014’s holiday decorations and trying to remember to write “2015” when writing down the date. Well, 2015 is now in the books, which means it’s time for us to stick our necks out and make a few predictions for what 2016 will bring in the world of college and graduate school testing and admissions. We don’t always nail all of our predictions, and sometimes we’re way off, but that’s what makes this predictions business kind of fun, right?

Let’s see how we do this year… Here are four things that we expect to see unfold at some point in 2016:

The College Board will announce at least one significant change to the New SAT after it is introduced in March.
Yes, we know that an all-new SAT is coming. And we also know that College Board CEO David Coleman is determined to make his mark and launch a new test that is much more closely aligned with the Common Core standards that Coleman himself helped develop before stepping into the CEO role at the College Board. (The changes also happen to make the New SAT much more similar to the ACT, but we digress.) The College Board’s excitement to introduce a radically redesigned test, though, may very well lead to some changes that need some tweaking after the first several times the new test is administered. We don’t know exactly what the changes will be, but the new test’s use of “Founding Documents” as a source of reading passages is one spot where we won’t be shocked to see tweaks later in 2016.

At least one major business school rankings publication will start to collect GRE scores from MBA programs.
While the GRE is still a long way from catching up to the GMAT as the most commonly submitted test score by MBA applicants, it is gaining ground. In fact, 29 of Bloomberg Businessweek‘s top 30 U.S. business schools now let applicants submit a score from either exam. Right now, no publication includes GRE score data in its ranking criteria, which creates a small but meaningful implication: if you’re not a strong standardized test taker, then submitting a GRE score may mean that an admissions committee will be more willing to take a chance and admit you (assuming the rest of your application is strong), since it won’t have to report your test score and risk lowering its average GMAT score.

Of course, when a school admits hundreds of applicants, the impact of your one single score is very small, but no admissions director wants to have to explain to his or her boss why the school admitted someone with a 640 GMAT score while all other schools’ average scores keep going up. Knowing this incentive is in place, it’s only a matter of time before Businessweek, U.S. News, or someone else starts collecting GRE scores from business schools for their rankings data.

An expansion of student loan forgiveness is coming.
It’s an election year, and not many issues have a bigger financial impact on young voters than student loan debt. The average Class of 2015 college grad was left school owing more than $35,000 in student loans, meaning that these young grads may have to work until the age of 75 until they can reasonably expect to retire. Already this year the government announced the Revised Pay As You Earn (REPAYE) Plan, which lets borrowers cap their monthly loan payments at 10% of their monthly discretionary income. One possible way the program could expand is by loosening the standards of the Public Service Loan Forgiveness (PSLF) Program. Right now a borrower needs to make on-time monthly payments for 10 straight years to be eligible; don’t be surprised if someone proposes shortening it to five or eight years.

The number of business schools using video responses in their applications will triple.
Several prominent business schools such as Kellogg, Yale SOM, and U. of Toronto’s Rotman School of Management (which pioneered the practice) have started using video “essays” in their application process. While the rollout hasn’t been perfectly smooth, and many applicants have told us that video responses make the process even more stressful, we think video is’t going away anytime soon. In fact, we think that closer to 10 schools will use video as part of the application process by this time next year.

If a super-elite MBA program such as Stanford GSB or Harvard Business School starts video responses, then you will probably see a full-blown stampede towards video. But, even without one of those names adopting it, we think the medium’s popularity will climb significantly in the coming year. It’s just such a time saver for admissions officers – one can glean a lot about someone with just a few minutes of video – that this trend will only accelerate in 2016.

Let’s check back in 12 months and see how we did. In the meantime, we wish you a happy, healthy, and successful 2016!

By Scott Shrum

GMAT Tip of the Week: Your GMAT New Year’s Resolution

GMAT Tip of the WeekHappy New Year! If you’re reading this on January 1, 2016, chances are you’ve made your New Year’s resolution to succeed on the GMAT and apply to business school. (Why else read a GMAT-themed blog on a holiday?) And if so, you’re in luck: anecdotally speaking, students who study for and take the GMAT in the first half of the year, well before any major admissions deadlines, tend to have an easier time grasping material and taking the test. They have the benefit of an open mind, the time to invest in the process, and the lack of pressure that comes from needing a massive score ASAP.

This all relates to how you should approach your New Year’s resolution to study for the GMAT. Take advantage of that luxury of time and lessened-pressure, and study the right way – patiently and thoroughly.

What does that mean? Let’s equate the GMAT to MBA admissions New Year’s resolution to the most common New Year’s resolution of all: weight loss.

Someone with a GMAT score in the 300s or 400s is not unlike someone with a weight in the 300s or 400s (in pounds). There are easy points to gain just like there are easy pounds to drop. For weight loss, that means sweating away water weight and/or crash-dieting and starving one’s self as long as one can. As boxers, wrestlers, and mixed-martial artists know quite well, it’s not that hard to drop even 10 pounds in a day or two…but those aren’t long-lasting pounds to drop.

The GMAT equivalent is sheer memorization score gain. Particularly if your starting point is way below average (which is around 540 these days), you can probably memorize your way to a 40-60 point gain by cramming as many rules and formulas as you can. And unlike weight loss, you won’t “give those points” back. But here’s what’s a lot more like weight loss: if you don’t change your eating/study habits, you’re not going to get near where you want to go with a crash diet or cram session. And ultimately those cram sessions can prove to be counterproductive over the long run.

The GMAT is a test not of surface knowledge, but of deep understanding and of application. And the the problem with a memorization-based approach is that it doesn’t include much understanding or application. So while there are plenty of questions in the below-average bucket that will ask you pretty directly about a rule or relationship, the problems that you’ll see as you attempt to get to above average and beyond will hinge more on your ability to deeply understand a concept or to apply a concept to a situation where you might not see that it even applies.

So be leery of the study plan that nets you 40-50 points in a few weeks (unless of course that 40 takes you from 660 to 700) but then holds you steady at that level because you’re only remembering and not *knowing* or *understanding*. When you’re studying in January for a test that you don’t need to take until the summer or fall, you have the luxury of starting patiently and building to a much higher score.

Your job this next month isn’t to memorize every rule under the sun; it’s to make sure you fundamentally understand the building blocks of arithmetic, algebra, logic, and grammar as it relates to meaning. Your score might not jump as high in January, but it’ll be higher when decision day comes later this fall.

Getting ready to take the GMAT? We have free online GMAT seminars running all the time. And, be sure to follow us on Facebook, YouTube, Google+ and Twitter!

By Brian Galvin.

GMAT Tip of the Week

GMAT prep
New Year’s Resolution

Admit it… As usual, you’re beginning the New Year this morning (or potentially afternoon) a little groggier than you would have liked, having enjoyed one more celebratory toast than may have been advised, and having stayed up slightly later than “I should watch Dick Clark sign off from Times Square just in case this is the last time” really warranted. Don’t most of us take January 1 as a day to ease in to our New Year’s Resolutions? Or, maybe more accurately, don’t most of us take a look in the mirror on January 1 (after all, the aspirin is in the mirrored medicine cabinet) and determine that “I need to do something about my life,” and use that as the initiative for our New Year’s Resolutions?

However you arrive at them, if you’re serious about applying to business school this year, your resolutions should include an initiative to start your GMAT preparation this month. Over the past seven years of teaching the GMAT, your author has found that his January students:

  • Are more enthusiastic and eager to learn than their summer/fall counterparts
  • Benefit from a more enthusiastic, eager-to-learn classroom environment
  • Can afford to give themselves more lead time toward the end of their courses to take practice tests and shore up areas of need
  • Find it easier to commit to a study schedule given the limited daylight and poorer weather (libraries are heated and sheltered!)
  • Form study groups with their classmates more often than do classes during the other times of year
  • Take the GMAT more confidently on test day knowing that they have plenty of time to schedule a retake if they (Heaven forbid) need to do so
  • Have plenty of time once their tests are completed to research schools, attend school presentations, visit campuses, and determine exactly where they’d like to apply
  • Have plenty of time to devote to their applications to confidently apply for the first round to their target schools

For all of these reasons, those who have multiple years of GMAT instructional experience tend to gravitate to the January classes (maybe add “work with the most experienced instructors” to that list as a result). If you’re certain that your 2010 plans include making some serious progress in pursuit of an MBA, you might want to consider beginning your GMAT preparation this month, as history dictates that it’s a wise move.

Happy New Year from the staff and faculty at Veritas Prep!

For more GMAT prep tips and resources, give us a call at (800) 925-7737. And, be sure to follow us on Twitter!

GMAT Prep and Admissions: The Best of 2009

There goes another year! As 2009 (and the decade… whatever we’re calling it…) winds down, we thought we’d share some of our most popular posts and most interesting topics from the past 12 months.

We hope that our blog has provided you with some useful insights as you’ve prepared for the GMAT and/or developed your grad school applications. Sometimes we have a little fun, and sometimes we veer off topic to talk about what interests us, but everything written here comes from the same place: We want to help you be successful!

With all that said, here are some of the most interesting topics and most popular posts from the past 12 months:

Thanks for reading, everyone! Best wishes for a terrific 2010!