July 25, 2010

The Real Cost of College Textbooks


Textbook CostsBill Wilson/The Anniston Star, via Associated Press

Why do new college textbooks cost so much? It's a perennial complaint, but with the growing concerns over student debt levels and the spiraling costs of higher education generally, students and their parents are not the only ones asking that question.

New federal regulations aimed at textbook pricing went into effect this month. Publishers will now "unbundle" college textbooks from accompanying materials like workbooks and CD's, allowing them to be bought separately. The publishers' representatives will also have to tell the college faculty member how much a textbook costs when they make a sales pitch -- the idea being that professors should be aware of what students will have to pay.

The book publishers supported the legislation. But a number of experts on the economics of textbook marketing said it will have little impact.

How onerous is the cost of textbooks, whether in print or digital, for students? Do colleges have a stake in keeping the prices high? What are the factors that determine what the publishers charge and what students end up paying?

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