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I'm taking the test in two days. The score will not be released until September. The next test date is in October. Should I still study during August-September if I plan on retaking if I am not satisfied with my score? For reference, I already paid for the whole month of August already.
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You definitely should! The reason being is that you should have the mindset you are already taking October because no matter what we want to get the highest score we can. With this mindset, it will give you an extra push to really get your goal score by October. If you dont study between that time you are already losing precious time you could be using to increase your score. Worse scenario, you get your goal score in September and you dont have to study anymore and it is win without losing anything besides some studying time. Regardless of what I have stated above, definitely continue to study through August!
I would take a week or so off after my test and then get back on the horse. It's always good to re-energize, refocus and re-attack. Many posts here and on /r/LSAT echo the same sentiment. Breaks and full recharges are absolutely necessary and sometimes even critical for major breakthroughs. Enjoy the weather (wherever you may be), go out, eat some good food, and spend time with friends. Come back fresh in a week or two.
As for the payment aspect -- its entirely up to you. Do you value the money spent and feel that you'd be better off studying the remaining weeks of August? Or do you find it wiser to take a break and resubscribe in September to continue the grind. Personally I'd go with the latter, but again, financial decisions are best made on your own.
Are you scoring near your target goal? If so, you have a better chance at hitting your target score on test day and maybe a retake won't be necessary. If you're not near it but hoping to peak, it might be best to plan for a future retake.
Regardless of where you stand, give yourself some time off from the LSAT before you jump back into studying. I'd recommend 1-2 weeks off, maybe even more if you've been at it for a long time (I took 2 months off and don't regret it one bit). Best of luck!
If you feel up to it and that doing so is your best way to keep up with the material, then go for it. But because you just took this really intense test, you may find that you're a little too mentally drained to study effectively, so taking a break might be necessary to prevent burn out. Don't force yourself into either mindset. Just see how you feel the day after the test and go from there.
If you do choose to take a break, you won't lose your fundamentals and will be restarting where you left off, so it won't put you in a bad spot for October.