My father is fond of saying, "It takes money to make money," and this saying constantly pops into my head when I'm cornered by a decision to either work or continue my education. I can't do both at this point, because grad school is not conducive to full-time work outside the hallowed halls of academia. At this point I choose college, because I know my education will eventually equate into a larger paycheck. More money means I can take my father's adage to the hilt and increase my portfolio deposits.

To that end, my educational investment this week was the Graduate Record Examination (GRE), because the college of my dreams requires these scores for admission. I was initially daunted about taking this test and I'll be forever haunted by the memory. Therefore - on Halloween eve - the GRE is an appropriate subject. Believe me, once the student practices and masters the quantitative part of the test, balancing checkbooks and budgets and tackling tax forms will be a breeze.

The GRE is one of the many tests administered by the Educational Testing Service (ETS), "the world's largest private educational measurement organization." If you're an educator or an employer, you might be familiar with the TOEFL, or Test of English as a Foreign Language. If you're a parent of a teen, then you know about - or remember with trepidation - the SAT. The ETS is in charge of all these tests and more. The only difference between the GRE and other tests mentioned above is that the GRE is aimed at graduate school.

Even though the test begins with computer familiarity, it's best to practice the test at home or at school. There is no difference between the test at the testing centers and the ones the student can practice at home. I also purchased two books to help study for the GRE. This was probably the best investment in my future I've made outside of BUYandHOLD. Both books are a little different, and this variety helped with testing questions and formats:

• Kaplan's GRE Exam - There may or may not be many changes between yearly editions. Just purchase the latest edition.
• The Princeton Review's Cracking the GRE Once again, this is a yearly publication.

Both companies also maintain websites with more information, including opportunities to take seminars or courses to help overcome the confusion and fear contained within the magnitude of this test. The GRE site also has tests and links (all links to these sites are listed after this article). The additional CDs within these books are great, because they are very user-friendly and they even appeal to children and teens. So, if you have kids who love computer games, you're set, because games are part of the practice. The books also give the student hints about how to tackle the various verbal and quantitative sections of the test.

Don't leave your children out of your studies, even at this level. No matter their age, any part of the GRE is acceptable to expand their minds, put them to sleep, or use as threats. For instance, if your child wakes up in the middle of the night from nightmares or Too Much Candy Syndrome, just go to their room and begin reciting algebraic formulas. Unless your children are bound and determined to become an engineer or designer, the formulas never fail to lull them back to sleep.

Our children can also help us with our studies. The only reason I knew the meaning of the word "felicity" was because I've read Jane Austin. However, it's been so long since I've read her books, I had to look for the definition. During this process, Cora told me what the word meant. When I asked how she knew, she replied, "That's the name of my American Girl? doll." She also knew the difference between an isosceles and an equilateral triangle. My daughter is invaluable. I just wished she could take the test for me.

The only relief from my utter fear over taking the GRE is that most colleges will balance the test scores against the rest of the application package. If a student's GPA (grade point average) is way above 3.5 and the test scores are a little below what the school expects, then there may be room to believe the student freezes over computer-based timed tests. On the other hand, if the GRE score is high and the GPA is low there may be some problems, because a high GPA shows a willingness and capability to endure grad studies.

Also, if the student feels the test scores reflect fear rather than intelligence, then the test can be taken over up to five times within a year. However, the university the student applies to may average the scores. In other words, if you don't think the second score will be much better, it may not be worth the effort and money. Money? Oh, yes - the test costs approximately one-hundred dollars. That's another incentive to do well the first time around. But when the goal is to increase the size of a paycheck, the cost is well worth the investment.

Outside of preparation, if the student has faith in their own abilities this is all they may need to banish the GRE ghouls and goblins. Of course, a grimacing pumpkin and a burning candle probably wouldn't hurt. Add a little time, patience, and the ability to incorporate the support of family and friends in your efforts toward your educational efforts. Even though this may sound like too much work for any single parent, I hope my own experience encourages you to make a grab for a higher degree. Even though it "takes money to make money," we also need to know where to "spend money to make money." Outside of our portfolios, education is one of the best investments I know.

Until Next Week,
Linda Goin

GRE website | Kaplan wesbite | The Princeton Review