Many student governments have joined a growing movement to lower the cost of college textbooks.
At first, this might not seem like a profound issue, but for many students textbooks are the single largest out-of-pocket expense of going to college. The College Board estimates that students spend about $1200 on textbooks and supplies every year, and individual textbooks can cost as much as $200. Even worse, over the past decade, college textbook prices have increased by 82%, which is three times the rate of inflation.
Textbook prices can be a serious barrier for students and families struggling to afford a higher education – but they don’t need to cost so much. In the online age, we certainly have the technology to make textbooks more affordable.
U.S. PIRG published a recent report, Fixing the Broken Textbook Market, that details the huge impact textbook prices have on students.
Among the findings:
- 65% of student consumers have opted out of buying a college textbook due to its high price. Of those students, 94% suffer academically.
- 48% of students said the price of textbooks determined which classes they take and how many classes they take.