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The nuances of textbook prices

Many college students today are spending nearly as much on textbooks for courses during a semester as they are for class tuition. That statement may sound exaggerated, but it is very much the truth. Some community college students pay around $100 per credit hour for tuition. It is not unheard of for some new textbooks to cost upwards of $200. While this may seem unfair and unreasonable, it is the reality of the current textbook market. There are options for students looking to control costs, and there is some hope for industry changes that could lead to lower costs in the near future.

So, why are textbook costs so high? The answer is not because authors are getting grossly rich, or that textbook publishers are greedy profit hounds. Of course, all parties involved in the development, production, distribution, marketing, and sales of a textbook do want to get paid. This is, after all, the nature of business. The sad reality is that textbook writers often see ten percent, or even less, of the income generated from the sale of their books. The costs to publish a book that is of good enough quality to compete in the competitive textbook environment are high. Publishers have to build in some profit for themselves, after covering the costs to produce the book and pay their salespeople to market it. Then, book distributors and resellers also want some profit for their involvement in the process.

Essentially, writing, producing, and bringing to market a quality textbook (especially a sturdy hardcover book) is costly. There are options for students who want to try to reduce the costs of books, but still have the required materials for classes. Second hand purchase opportunities are widespread, and include online avenues, such as Amazon.com, EBay, Half.com, and the like. Other students sell their books directly through bulletin boards or other forums.

Many students opt to buy less expensive used copies of books that were resold to book wholesalers by previous owners. This certainly can help keep total book costs lower. Of course, authors, already begrudged at their low percentage, make nothing off of secondary market sales. This is why many textbooks are revised with a new edition almost every other year. Authors can only get paid by offering a new product to the market. Some books have very limited revisions, but are updated just enough to justify a new product and new income stream.

There is some good news on the horizon for students. Publishers are starting to feel the crunch of reduced demand in the market for high priced print books. Some students share books. Others simply do not buy required books and try to make do in class. This has prompted some publishers to cut down on the number of books they publish and focus on core areas of success. More importantly, publishers have begun moving toward online enhanced, or completely online, textbook options. Some publishers now have the ability to provide students with online versions of books at a significantly reduced cost. The challenge with this approach is that some instructors expect students to have books in class with them for in-class work. Thus, this online option is currently offered largely on a class-by-class, instructor-by-instructor basis.

Unfortunately, in the current textbook environment, studious students must view expensive textbooks as an investment in their future. Many instructors are working to try to utilize less expensive books without sacrificing academics. Publishers have offered more paperback products. Publishers realize the consumer demand for less expensive textbooks and are working to come up with more effective low-cost opportunities that will hopefully be available sooner than later.

Thank you to Neil Kokemuller for this "Textbook Prices" article.