Why College Textbooks Cost So Much
If you or someone you know has recently thought about attending college then you may already know a little bit about the high costs of textbooks. College and university textbooks are one of the staples of a higher education – without them and similar materials, you won’t be learning much. So why do they cost so much if they’re such a necessity, and is there anything that can be done about it by the schools, the government, and the students themselves?
College students rely upon textbooks but with their increasing prices, this simply adds to the expense of getting a higher education. As with anything, the only way to find a real solution is to first discover the reasons behind the problem so that more people are able to realize their dreams of attending college.
College Textbooks for Sale – $900 per year!
At the beginning of each semester, students must look for their college textbooks for sale. According the College Board, a student can expect to pay about $900 just for their textbooks each year. This increase of $200 over five short years merely adds to the already steep cost of tuition. And, for students in all walks of life, this increase means they must seek more financial assistance from the government or be unable to complete their schooling.
The Growing Cost of College Textbooks
Over the past two decades, the cost of textbooks has been on the rise with an average increase of six percent each and every year. In comparison to inflation in general around the country, for example, in the years 1986 to 2004 the increase rate for college textbooks was a whopping 240 percent compared to the nation’s 72 percent inflation rate.
By studying a breakdown of the cost of textbooks we have a better idea as to who in the industry is profiting the most from these high prices and why.
A financial report from the National Association of College Stores gives us the exact breakdown of what it costs to make each textbook and who profits the most. Freight costs are the lowest at 1%, followed by 4% for the store selling the book, 7% for the publishing company, 12% for the author, 17% to pay for store operating costs, and the largest portion at 59% for publishing costs. Publishing expenses for college textbooks are the highest, and unfortunately, without real action and a definitive change within the industry, prices are likely to continue to rise quickly.
Dealing with the Expense of University Textbooks
The government has stepped in to examine textbook costs. The Government Accounting Office, GAO, has investigated why textbook costs have been on the rise at such an alarming rate. The GAO found that increases have been largely due to the increase in costs of product development, including the addition of supplemental aids, such as CD ROMs, which are requested by instructors. Also cost increases are due to frequent requests for revisions of the material.
The U.S. state and federal governments have also stepped in by declaring college textbooks exempt from sales tax, and encouraging publishers to find viable alternatives to bundling books with software. Ongoing studies are still being done to find additional ways of decreasing the cost of textbooks.
To ensure the cost of textbooks stay at a manageable level, both professors and students should be willing to do their respective parts. It’s a fact that a large part of rising textbook costs can be attributed to professors and instructors making frequent requests for revisions and additions, both of which contribute to higher costs. Making it a point to think of the costs for students first, professors should plan their course materials accordingly.Some companies have started offering chapters, or even an entire textbook online. This is environmentally friendly and saves on printing and shipping costs.
Some universities place copies of textbooks in the library so they can be used there instead of being purchased. Some schools and businesses are offering a rental system for textbooks. This allows students to rent instead of buying the books and can saves a significant amount of money.
Many students are taking action themselves, finding textbooks for sale online, borrowing and sharing books, or by buying used books.
The rising cost of textbooks is a problem that needs a solution quickly. It is something that everyone, on every level, has to work together to solve, so students can focus on their education without worrying about whether they can afford the textbooks they need.
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