Students sound off as textbook prices inflate

Experts say many factors play role in setting cost of books

By: Lisa Riordan

Posted: 4/6/07

"We know textbook prices are too high," said Steve Eckrich, General Manager and CEO of the OSU Bookstore. "We're doing everything we can to keep prices as low as possible."

College textbook prices have increased steadily over the past two decades, at twice the rate of annual inflation, according to a study performed by the Government Accountability Office.

The National Association of College Stores said that the average higher education student spent between $801 and $904 on textbooks during the 2005-06 academic year.

The GAO predicts that textbook prices will continue to rise, attributing this trend to the increased demand for CD-ROMS, specialized Web sites and other supplemental materials.

This technology drives up the cost for students, and forces some to spend more money than necessary.

"I don't even buy textbooks because they're so damn expensive," said Sam Holzman, a senior in exercise and sports science. "If I really need it, I just ask someone else. There's always going to be some sucker that buys the book."

Holzman said most of his courses are lecture-based and that the books only act as a secondary source.

"Why buy something I don't need, when I can just get it from the Internet anyway?" Holzman said.

Nathan Becker, a junior in English, said the prices have become ridiculous.

"Course packets are really expensive," Becker said. "At least for English classes, you pay $50 for a mishmash of things your professor threw together, and 50 bucks for a booklet of paper is silly."

Many students try to find a cheaper price online, only to find that shipping and handling negates any possible savings.

"I've bought books off of Amazon.com and it was cheaper," said Kerry Hart, a senior in dietetics. "But then there was also shipping and handling."

Other students complain that the book buyback process at OSU isn't always worth it.

Sean Ogle, a senior in finance, usually spends around $300 a term on books and receives about $80 back at the end of the term.

"Although last term I only got $15 back," Ogle said.

"You can maybe sell them online or something, but it's such a hassle," Hart said.

Eckrich wants students to understand the rational behind the pricing. "With book-buyback, we consider two things: If the book can be sold again, then we pay the student 50 percent of the original cost," Eckrich said. "If they can't be sold again, then we sell it back to the wholesaler. The wholesaler sets the prices, and we pay that price back to the students."

Some students feel that the bookstore set prices are unfair, and that it is making a profit off of students.

The OSU Bookstore, however, is an independent, non-profit organization.

According to NACS, 58 percent of each textbook dollar sold goes to the publishing company to pay for general production costs, administrative duties and marketing.

An additional 7.1 percent of the textbook dollar goes to publishers as profit.

The author's royalties comprise 11.7 percent of the dollar, while freight and transportation costs eat up another cent.

College bookstores account for the final 22.2 percent of the textbook dollar.

The OSU Bookstore has a gross margin of 17 percent, well below the national average.

"We have one of the lowest textbook margins of any college store in the country," Eckrich said. "We can do this because we're non-profit."

NACS reports that the typical college bookstore takes 4.9 percent home in profits.

The OSU bookstore takes in only 1.9 percent profit. "All profit goes right back into running the store," Eckrich said.

Dr. Kevin Ahern, a professor in biochemistry and biophysics, collaborated on a textbook published in 2000, and described the experience as the most grueling, stressful, intense 18 months of his life.

"I earn royalties but they're not nearly as much as students think," Ahern said. "The author's take is pretty small compared to what goes to the publishers."

"Students definitely have my complete sympathy when it comes to textbooks, they're too expensive," Ahern said.

Ahern thinks that unnecessary new editions are the reason behind rising textbook prices.

"You know, I can understand why some subjects need to be updated often. But things like math and history, they're not really changing," Ahern said.

Both Eckrich and textbook manager James Howard also expressed concern over frivolous new editions. "We work with professors, if we can get an extra two years out of a textbook before it's replaced, then we save the students money," Eckrich said.