College textbook spending downA recent study indicates that college students are spending much less on textbooks than in previous years.

As tuition for a higher education has skyrocketed, universities are implementing cost savings options to decrease the amount students spend on textbooks. Four years ago, the average student estimated spending slightly more than $700 per year on course materials. That number has decreased to an estimated $655 annually.

Many universities are offering students the option of renting their textbooks for the semester rather than buying them. This money-saving option is preferred over buying by 74 percent of students, the study reported.

Another option students are taking advantage of is purchasing e-textbooks for tablets and e-readers, rather than buying a printed book, which can also cut the cost of course materials.

MSNBC reported that companies like Apple, Barnes & Noble, Microsoft and textbook giant McGraw-Hill are racing to take advantage of the new industry of e-texts as students become more accustomed to digital materials. Some are offering the option for students to purchase single digital chapters, while others are offering PDF versions of the entire book.

The advent of e-readers and textbook renting is slowly changing how the supply chain in the textbook industry operates. Companies that are breaking into the e-textbook and rental book market are finding their manufacturing costs decrease, as there is less of a demand for the materials necessary for printed products. However, MSNBC notes that the e-book market comes with costs of its own, including the need for engineers and technical support.
Share To:

Strategic Sourceror

Post A Comment:

1 comments so far,Add yours

  1. Rental textbooks has helped lower textbook costs but I fear that rentals & digital will reduce the inventory of used textbooks and will cause prices to rise in the long haul.