2008 Woodie Awards
Textbook prices continue to increase dramatically
Daniel Gamberg
Issue date: 4/28/08 Section: News
The exponentially rising publisher prices of college textbooks are compelling consumers and retailers to find new alternatives. Today, while pursuing higher education, every college student encounters a plethora of expenses: enrollment fees, course fees, student body fees, campus fees, service fees and textbook prices all must be absorbed. Of these expenses, the high price of college textbooks is climbing higher and faster than most.
The increase in textbook prices stems from the publishers that produce them. College textbook publishers such as Pearson, McGraw-Hill, Houghton-Mifflin and Cengage Learning reign at the apex of the publishing hierarchy. Publishers are "bundling-in" materials with textbooks, which drives up the price and introducing new editions that must be bought at publisher prices.
"I feel all my money that I work hard for goes towards textbooks," said Darlene Lai, a second year business student.
"The publishers have steadily increased prices over the years, dramatically," said Jeri Montgomery, director of the De Anza College bookstore. The bookstore marks up textbook prices within a 23 percent margin, which is slightly higher than the national average of 22.4 percent according to the 2007 College Store Industrial Report by the National Association of College Stores.
"We look at textbooks as a break-even operation," Montgomery said. "Without the margin we would lose money." The bookstore does not receive money from the state budget and operates to accommodate students by offering everything they need.
Addressing the high costs of textbooks, the bookstore is buying more used books. The used books are bought from wholesalers, not from publishers. The bookstore is also exploring a textbook rental program that would require professors to use the same textbook for two to three years to recover bookstore costs, Montgomery said.
As consumers feel the effects of increasing textbook prices, retailers are also seeking alternatives. "With so many vendors chasing the same product, it's very difficult to get [textbooks]," said Mike Peters, manager of Aida's University Books Inc. in Cupertino. When pricing textbooks, Peters says they try to be as fair as they can "and that's all you can do, really." Peters says he, like many students, is also looking for substitutes for publisher prices online.
The increase in textbook prices stems from the publishers that produce them. College textbook publishers such as Pearson, McGraw-Hill, Houghton-Mifflin and Cengage Learning reign at the apex of the publishing hierarchy. Publishers are "bundling-in" materials with textbooks, which drives up the price and introducing new editions that must be bought at publisher prices.
"I feel all my money that I work hard for goes towards textbooks," said Darlene Lai, a second year business student.
"The publishers have steadily increased prices over the years, dramatically," said Jeri Montgomery, director of the De Anza College bookstore. The bookstore marks up textbook prices within a 23 percent margin, which is slightly higher than the national average of 22.4 percent according to the 2007 College Store Industrial Report by the National Association of College Stores.
"We look at textbooks as a break-even operation," Montgomery said. "Without the margin we would lose money." The bookstore does not receive money from the state budget and operates to accommodate students by offering everything they need.
Addressing the high costs of textbooks, the bookstore is buying more used books. The used books are bought from wholesalers, not from publishers. The bookstore is also exploring a textbook rental program that would require professors to use the same textbook for two to three years to recover bookstore costs, Montgomery said.
As consumers feel the effects of increasing textbook prices, retailers are also seeking alternatives. "With so many vendors chasing the same product, it's very difficult to get [textbooks]," said Mike Peters, manager of Aida's University Books Inc. in Cupertino. When pricing textbooks, Peters says they try to be as fair as they can "and that's all you can do, really." Peters says he, like many students, is also looking for substitutes for publisher prices online.
Viewing Comments 1 - 3 of 3
Rudy
posted 4/29/08 @ 11:45 AM PST
The price of college textbooks is outrageous, especially if you consider it against the inflation rate. There is a good article at http://www.college-cram. (Continued…)
Jake Parent
posted 4/30/08 @ 10:08 AM PST
Textbook prices are criminal and definitely detrimental to the fiscal health of the student body.
ceiowybcubwcuy
posted 5/02/08 @ 6:43 PM PST
The bookstores are the real thieves here! Their markup is WAY more than 22 percent!
Post a Comment