Despite new technologies and a 2012 California law promising college students relief from soaring textbook costs, students' bookstore spending is higher than ever -- now about $1,200 for books and supplies.
Today, a survey released by the U.S. PIRG Education Fund shows that 65% of student consumers have opted out of buying a college textbook due to its high price, and of those students, 94% they suffer academically.
This study demonstrates that despite recent steps forward in the marketplace, high textbook costs will continue to be a problem for students unless the cost of high-priced, new editions of college textbooks comes down.
As students across the country prepare to return to campus this fall, textbooks remain one of the priciest items on their shopping lists. However, several new developments suggest the textbooks market may be reaching a turning point.
College textbook prices increased three times the rate of inflation over the last decade according to a new report by the United States Government Accountability Office (GAO). Recent changes to federal law provide some relief to students, but more must be done to curb textbook costs permanently, it finds.