Why do my textbooks cost so much?
After shelling out big bucks for tuition, room and board, and other college expenses, students may be taken aback by the prices on textbooks for class. National statistics show students spend hundreds of dollars each year on textbooks—and they’re not happy about it.
According to old campus newspapers found by the National Association of College Stores (NACS), students were complaining about textbook prices back in the 1930’s when the average textbook cost about $3. Things haven’t changed. Today’s students are still raising questions about why textbooks cost as much as they do. Here are some of the most frequently asked questions and answers.
Why is the store gouging me? Textbook prices are so high; I know the store is making a ton of money.
In reality, the bookstore doesn’t make much on textbooks. On average, 64.8% of the sticker price on new books goes back to the publisher, mostly to cover development of the book and normal business expenses. The author gets about 11.6% in royalties. The freight company that shipped the book gets about 1.2%.
The rest goes to the bookstore, but out of that amount the store has to pay for staff wages and benefits; administrative fees to the university, store supplies and equipment, and store upkeep. In the end, on average, just 4.5% of every dollar represents profit for the store.
Why doesn’t the store pick cheaper books?
The store is not involved in textbook selection. Your professors spend many hours reviewing dozens of books to find just the right ones for your courses. The professors then tell the bookstore which books to order.
The bookstore does put a lot of effort in keeping textbook prices as affordable as possible, like encouraging faculty to make their book decisions early so that the store has time to obtain more used copies.
But novels and other books don’t cost as much as textbooks. Textbooks are not like novels or general-interest books, which can be sold to broad audiences. Most textbooks are specialized and will be purchased by only a relatively small number of people. Also, textbooks require considerably more time and effort to develop. To ensure accuracy, they must undergo rigorous academic review and fact-checking, and must be updated every few years to stay current.
Some textbooks are shrink wrapped with extras I don’t need or use. Why does the store make me pay extra for these?
These ancillary materials have been developed by the publisher, and are normally included with the book at no extra cost to students. These supplementary materials are intended to help you succeed with the class.
Five tips for saving money on textbooks:
- Go to class first and make sure your professor will be using the textbooks on the syllabus. Sometimes professors change their minds after telling the bookstore to order the books.
- Be sure you understand our store’s return policy before you buy, especially the deadline for full refunds.
- Save your sales receipt. You must have it in order to return a textbook for a refund.
- Keep new books in pristine condition until you are sure you will be using them. You can’t get a full refund for a book that’s been marked or shows wear.
- When available, buy used textbooks, if you don’t mind someone else’s marks. Shop early! Only limited quantities are available and they go quickly.
Tips for buying online:
- Does the seller have the correct edition of the book you need? Some online sellers offer old editions.
- Will you get the book in time for class? Many sellers do not keep stock on hand. They obtain the books from a distributor and it may be weeks before they ship your books.
- What are the shipping charges? This varies a lot from seller to seller.
- Will you be able to return the book for a refund? Many online sellers do not give refunds or have very restrictive requirements. Remember it may be a month before credit is applied back to your credit card.
This information is provided by the National Association of College Stores.