The school year is around the corner, and many college students are scrambling to afford college supplies such as textbooks. College students are always finding some creative way to avoid paying for high-priced textbooks. An average student could spend $600 to $1,200 on course materials. Some professors understand that students want to save money where they can, and only require essentials and cheap textbooks. But, regardless of understanding professors, college bookstores are selling textbooks for a pretty penny.
Rafael Gomez is a professor at SUNY Purchase and a residential coordinator on campus. He teaches two classes: Freshmen Seminar and Fundamentals of Leadership. Gomez graduated from SUNY Brockport in 2014 with degrees in Psychology and Communication. Like most professors, he understands the plight of college students.
For his course Fundamentals in Leadership he requires only two textbooks of students. Gomez purposely unlisted one book from the college bookstore and, instead, recommended that students buy it via Amazon where it is less than $25. The other required text is completely free on the internet.
The cheap and accessible material allowed students to be well prepared for his course. Gomez gives a grace period to students who haven’t received the materials yet.
Some professors are completely unaware of high-priced textbooks and continually use the same expensive textbook. Academic publishers push expensive textbooks on college professors by convincing them it contains updated material for their course. With few independent academic publishers and little competition, publishers can mark up their prices.
Publishers control the market
There are only five academic publishers that control the market for textbooks. They get away with high-priced textbooks since there is no cheaper option to undercut them. Textbooks are one component of why college costs are rising.
Millennial students are suffering from a higher-education bubble, and textbooks have increased 182 percent since 1998. Textbooks shouldn’t be inflated beyond affordability. Colleges need to maintain a steady price for books instead of overpricing them.
Although there are discounted textbooks online, publishers control the list price among most online stores. Publishers defend their position, stating that the print industry is dying, thus forcing high-priced books.
There are only two editions for Gomez’s course. He doesn’t require students to have the new edition. “The diagrams I use in the book are the same in both editions, so it doesn’t matter to me,” Gomez said.
However, no matter how expensive textbooks are, students and college bookstores are getting creative by finding cheaper textbooks.
Most college bookstores keep used books and resell them as rentals. Textbook rentals keep prices lower for students. McGraw-Hill Education, a New York publisher, reported a net loss of $116 million in 2016. Some students sell their used textbooks at a lower price for courses that use the same textbooks.
The rental textbook market has shifted how a student gets textbooks. Publishers have no control over the resale market that emerged. Courses still use previous editions of textbooks. Students also have relied on free digital copies on the internet. Many sites provide free digital copies for students.
However, publishers have wised up to this. Publishers are now requiring access codes for a digital version of a textbook. Publishers also release new editions of textbooks, forcing professors to comply.
Takeaway
The rental market is disrupting publishers’ stranglehold on textbooks. Students’ creative methods for obtaining textbooks can change how the market is operating. Although colleges are forced to comply with high-priced textbooks, they can offer new and used books as rentals that lower prices for students.
Digital versions are certainly hurting the industry, but this should force publishers to rethink their market strategies and provide students with cheaper options. Despite what publishers do, professors need to be aware of textbook prices and empathize with students’ struggles.
Have something to add to this story? Comment below or join the discussion on Facebook. Header image: Shutterstock
