Ask college students to state one of their largest expenses and it would be safe to bet the response would be “Textbooks!” The cost of purchasing required materials for courses has reached numbers high enough to cause many students to take out second loans. Tyler Kingkade explains information released this year by the American Enterprise Institute shows that “textbook prices have increased faster than tuition, health care costs and housing prices, all of which have risen faster than inflation.” He continues by stating this information equates to an 812% increase in the cost of college textbooks over what they were just over thirty years ago. The figure here shows an unusually large increase that has far outpaced that of average inflation. Combine this information with the equally troubling information released by Bloomberg stating “college tuition and fees have increased 1,120 percent since records began in 1978” and a serious financial problem for students emerges (qtd. in Mossbergen). These statistics show a desperate need for relief in order to help lessen the financial burden being placed on today’s students. Considering the implications of these two figures, State University should attempt to remedy the increasing cost of textbooks as soon as possible before they overwhelm students more than they already have. In order to help reduce these runaway costs, this institution should pursue a policy similar to those high schools and elementary schools practice, namely a sort of loan program.In order to best understand why implementing such a loan program would benefit the students one must understand why textbook prices have spiraled out of control. The problem lies with textbook publishing companies. These companies have a meta…
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Mosbergen, Dominique. “Cost of College Degree in U.S. Has Increased 1,120 Percent in 30 Years, Report Says.” The Huffington Post. TheHuffingtonPost.com, 15 Aug. 2012. Web. 9 Nov. 2013.
Mui, Ylan Q., and Susan Kinzie. “Break on Cost Of Textbooks Unlikely Before Last Bell, 2010.” The Washington Post. WashingtonPost.com, 20 Aug. 2008. Web. 9 Nov. 2013.
Pescovitz, Naomi. “Rising Cost of Textbooks Leads to Illegal Downloads, Copies.” N.p. 23 Aug. 2013. Web. 9 Nov. 2013.
Pollitz, John H., and Anne Christie. “The High Cost of Textbooks: A Convergence of Academic Libraries, Campus Bookstores, Publishers?” Electronic Journal of Academic and Special Librarianship v.7 no.2 (2006) : n. pag. Web. 9 Nov. 2013.
Schick, David, and Mary Beth Marklein. “College Students Say No to Costly Textbooks.” USA Today. 20 Aug. 2013. Web. 9 Nov. 2013.