A recent study by the United States Government Accountability Office confirms what many students already know – college textbooks are expensive.
The GAO found that college textbook prices have increased at more than twice the rate of annual inflation during the past two decades. Since 1986, textbook prices have nearly tripled – increasing by 186 percent – while overall market prices grew only 72 percent.
For the 2003-2004 academic year, the GAO estimated that an average full-time student spents $898 on books – almost three-quarters the cost of in-state tuition and fees at LSU.
The GAO attributes the escalating textbook prices to publishers that package the books with extra add-on features such as compact discs and Web-based tutorials.
The study also found that publishers are revising textbooks more frequently and expressed concern about the financial impact it has on students.
“[The] concern is that more frequent revisions limit the opportunity students have to reduce their costs by purchasing used textbooks and selling their textbooks back to bookstores at the end of the term,” the study read.
The GAO estimated the average revision cycle for most books to be around three to four years, compared to the four to five year revision cycle that was standard 10 to 20 years ago.
The study also revealed what many Internet-savvy college students already know – textbooks, on average, are much more expensive when purchased in the United States.
This trend is apparent with international booksellers, such as Amazon.com.
College Algebra, 7th edition, by Michael Sullivan, when purchased at Amazon.com, costs $98.40, but, when purchased at the company’s U.K.-based site, Amazon.co.uk, the same book was $80.82.
The study found that publishers price their textbooks to reflect the market conditions in each country. In many instances, publishers sell textbooks in one country at prices at or around the price it costs to print and distribute additional copies, often leaving American students to pay the cost it takes to write and develop the book.
In response to this report, the Association of American Publishers said its research showed students spend less than $600 for textbooks, about $300 less than the GAO’s report.
“Our key concern with GAO’s report is that they relied on data that do not reflect the true cost of books to students,” said Patricia Schroeder, AAP President, in a press release. “Two independently derived estimates confirmed that the average full-time equivalent student actually spends about $580 per year on textbooks.”
The AAP said the GAO’s estimated average included supplies, such as computers, calculators and lab equipment, which represents 27 percent of the total average.
Sara Hunt, German sophomore, said she thinks the book companies are purposely driving up their prices.
“I think the book companies should do better research so they know what we need,” Hunt said. “I think if they did, they would realize that people aren’t using the CD or whatever else they tag along with the book.”
Hunt said she did not notice a hike in book prices but said the roughly $800 she spends on textbooks annually can be overwhelming when coupled with her yearly tuition fees.
Hunt said she thinks the increasing textbook prices and the lower buyback rates are due to courses that keep requiring new editions.
“For some classes it’s necessary because there is new information out,” Hunt said. “But for some classes, like math, there really is no need to print a new edition.”
Amber Stolp, human resources senior, shared Hunt’s sentiments.
“They like to change the editions so much,” Stolp said. “Most of the time, I can’t sell the book back.”
Stolp said she buys her books through the Internet because she was tired of paying the inflated prices for books at the local bookstore.
After some comparative research, Stolp said she found that the seven books she recently purchased for $287 on the Internet would have cost her more than $500 at a bookstore.
Contact Ryan Grush at rgrush@lsureveille.com