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These days, the company is keeping one eye on the 4.5-hour test, which has been given 187,000 times in the past 12 months, and another on new projects. The council also is sponsoring a new MBA loan program (with funds distributed by Sallie Mae, a financial services company) that lessens the exposure of companies who pay to send employees to B-school. Essentially, students borrow the money, employers make the payments, but new MBAs who quit before the three-year loan is repaid have to pick up the payments when they leave their company. GMAC also plans to offer more practice exams on the Web, and will launch a revised Web site next June 1...
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