Why College Textbooks Cost So Much
Anyone about to start or already busy furthering their education is probably well aware of the ridiculous cost of all types of textbooks. Books are, unfortunately, an inevitable and expensive part of college life that cannot be avoided, making finding college textbooks for sale an absolute must. But, why are they so costly, and what, if anything can be done about the problem? Are the government or individual schools even concerning themselves with the issue?
Students must have textbooks, but the high cost it is becoming a financial hardship to many students. The only way to fix the problem is to understand it, so a solution can be found and students can save money.
Students Pay High Price for College Textbooks
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 Steady Rise in University Textbook Prices
Textbook cost has been steadily rising over the last 20 years. The average increase is 6 percent per year. To compare this to the national inflation rate in the period of 1986 to 2004, textbooks increased 240 percent while general inflation was 72 percent.
With closer examination into a breakdown of the cost of textbooks it becomes more clear who is profiting the most from these outrageous prices.
According to the National Association of College Stores College Store Industry Financial Report 2003, the breakdown of textbook costs is as follows:
– 1% freight cost
– 4% store income
– 7% publisher income
– 12% author income
– 17% store personnel and operational costs
– 59% publishing expenses
As you can see from the figures, the publishing costs are the largest piece. Without some change in how the publishing of textbooks takes place, prices are sure to continue increasing.
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.
There is much that professors and students can do to keep costs down. Professors need to start thinking about the cost when choosing materials for their class. Much of the increase in costs have been linked to professors requesting improvements and supplementation of textbooks.Students should look into the growing number of companies that can offer access to a textbook online. As more books become available, this could help keep down costs.
Many colleges have begun stocking the school’s libraries with current textbooks. Others are implementing a rental system to allow students to use books without the need for purchasing them.
By being creative and proactive, students can help keep their own costs down. They should consider the benefits of sharing books, borrowing from friends, and buying used or discount textbooks online.
The increasing price of textbooks is definitely a real problem that needs a viable solution. But, if everyone works together, each doing their part, more people would be able to afford a higher education without needlessly worrying about how they will pay for their textbooks.
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