The Textbook Racket

Every college student knows about the high price of textbooks. I have five classes this semester and managed to spend almost $500 on assigned readings. These were almost all politics and history classes, which makes the figure even more amazing. Textbooks for humanities classes actually tend to be cheaper than other subject areas. For example, students studying hard sciences like biology or chemistry often have to shell out over $100 for a single text book. Unless something is done to make college books more affordable, higher education may soon be out of reach for many young people.

Why are prices so high? There are a variety of reasons. First, publishers work to restrict the used book market by constantly publishing new editions of each book. Since most professors require students to have the most recent edition of any textbook, the used copies from last year become relatively worthless. The new edition might be worthwhile if it had new material, but most of the changes are usually relatively minor and cosmetic. The textbook industry constantly pumps out new editions primarily to squash the used book market and to artificially inflate prices.

Another tactic used by the textbook industry to make books more expensive is called "bundling." Textbooks are filled with all kinds of useless bells and whistles to justify high prices. These include CD-ROMs, work books, and a variety of other add-ins that most professors rarely use. These supplements are supposed to enrich the educational experience, but they are actually serving as a way to enrich textbook companies.

The textbook industry claims that high prices are justified because text books are expensive to produce. This is true, but there is much that publishers could do to make books less expensive for consumers. The easiest thing to do would to simply allow students to download textbooks directly from a centralized website. Students could pay a flat fee for a semester and have access to all the books for their classes. This would save tremendously on both printing and distribution. By allowing access to electronic copies, publishers would be able to sell directly to technologically savvy students.

Some students need hard copies of assigned reading. Luckily, textbook publishers can make these more inexpensive as well. Some companies have already begun issuing “no frills” copies of text books. These have soft covers and use a much lighter binding system. Essentially, the textbooks look like binders with looseleaf paper. Charts and graphs are presented in medium-quality color instead of the slick look that accompanies most textbooks. These low-cost textbooks might not be flashy, but they get the job done.

Professors can help their students control textbook costs in a variety of ways. First, they can make sure that their textbooks are offered online and in a “no-frills” version. If a publisher does not offer these options, professors can threaten to take their business elsewhere. Professors should also be lenient in allowing students to use older editions to open up the used book market.

Professors and students shouldn't be the only ones fighting for affordable textbooks. Millions of students attend public colleges and universities that are financed by tax dollars. It’s time for our elected leaders to take legislative action. A good first step would be to require campus bookstores in publicly funded schools to carry books that have both electronic and “no frills” editions. This requirement would force the textbook industry to start creating low-cost options for students. After all, the student population is a huge market of consumers. In fact, several smaller publishing companies have already started to offer these types of affordable products.

Ultimately, higher education is an extremely important investment in our nation’s future. Financial barriers exist for many potential students and textbooks are part of the equation. Inflated prices have no place in the educational experience. Professors, institutions of higher education and publishing companies should work to make this aspect of college more affordable.