Counting on leaving Coffman bookstore with cash to start your summer in style, you eagerly inch up to the counter, hand over your pile of this semester’s textbooks and the counter clerk starts scanning away. Gazing at the screen, you notice you are banking $2 for a book that cost you $60. The clerk hands you a pathetic “stack” of cash—much more slender than the one you shelled out months ago to buy the books—and you’re pushed to the limit.
And you’ve got reasons to be pissed. Students pay an average of $900 a year on textbooks, according to a July federal Government Accountability Office report. Textbook prices have steadily increased at twice the rate of inflation since 1986 and identical textbooks can often be purchased overseas for less than half of the U.S. price. Publishers sometimes offer incentives to professors to assign new editions. Occasionally, professors even assign books they’ve written themselves. And, as most can attest, bookstores only buy a used book back at a maximum of 50 percent of its retail price. Still mad?
Why are textbooks so expensive? According to Doug Armato, director of the University Press, it’s because books are expensive to create in the first place. It costs about $20,000 to fully publish the first copy of an average book. Printing additional copies can cost anywhere from $10,000 to $12,000 a print run, Armato explains.
Nonetheless, the GAO confirmed that textbook prices increase at 6 percent per year—twice the rate of inflation. Increasing costs, the GAO says, are largely due to packaging and supplementary materials. Those CDs and workbooks, often not assigned, that are bundled with required textbooks are a chief reason for driving up prices (10 to 50 percent), the GAO report explains. This also hurts your resale power, as the bookstore sometimes won’t buy back a book if you don’t have the CD, workbook or have used the Web passcode. Frequent revisions, resulting in new editions, are another reason cited for skyrocketing prices, the GAO says.
The GAO also points out that U.S. textbook prices are lower overseas—sometimes up to 50 percent less. This is due to marketability in the U.S., such as a “willingness and ability of students to purchase the textbook,” the report says. The report also notes that publishers have “taken steps to limit” cheaper online “reimportation” of books back into the U.S.
Faces might turn red this fall when students find they have to purchase a $100 eighth edition, instead of a used seventh edition for $60, but what about the fury when they find out their own professor wrote that book they’ve been assigned? Though the university “encourages faculty authorship of instructional material,” these instructors must not “personally profit from the assignment of materials … without proper administrative approval,” according to the University Senate Educational Materials Conflict of Interest policy. It is also not allowed for professors to accept commissions from publishers for assigning other books.
Most professors who assign their own texts donate their royalties to a scholarship or other educational fund for students, says Richard Bianco, associate vice president for regulatory affairs. He explains that profiting from assigning books to students is unethical and most professors are “on the same page about this.” But there are no conflict of interest cops, Bianco says, and it is largely a “self-disclosure system.” Details on enforcement are left up to the individual departments.
But it seems some departments might not have gotten the memo on conflict of interest policy, which has been in effect since 2001. “I wasn’t aware of it,” says English professor Joel Weinsheimer, who has taught his novel, Untimely Ripped, for more than two years, uninformed that he was not allowed to profit. This may be because “it doesn’t bring in a profit anyways, so it doesn’t matter,” he says.
“Some of my students think I go to Jamaica every year” off of their student loans, Weinsheimer says. Much to the contrary, he grosses only $1 per book, and most of his Modern English class opts for used copies, so he earns around $40 per semester through royalties, he explains.
According to Armato, professors make about 7 to 10 percent from sales, which is much lower than a commercial publisher, where an author would make 25 to 30 percent. The bulk of your dollar (about 33 percent) goes to the publisher for paper, printing and editorial costs. Only 11 percent goes to the bookstore. Small author’s royalties shrink even more when you include their research and writing expenses, according to the National Association of College Stores .
Weinsheimer’s small profit margin, and then some, is donated back to the class, because he offers to take his students out to lunch, he says. Though Weinsheimer wasn’t aware, lunch is a sanctioned use of the profits under the university’s policy. What a professor wants to do with royalties is an individual choice, as long as they do not profit personally, says Bianco.
Weinsheimer says he will continue teaching the book unless his students give him negative feedback on the end-of-semester evaluations. He thinks it is a unique experience for students to get to interact with an author they’re reading in class. “Yes, Hemingway is a better writer than I am, but they don’t get to talk to him,” Weinsheimer explains.
Arlene Teraoka, College of Liberal Arts Associate Dean for Undergraduate Programs, agrees that this practice can be beneficial. CLA approved 21 requests for the use of books authored by the teaching professor this year—out of 540 professors in CLA. “These are books that are the only ones, or the best ones, available in English on the subject,” she explains.
Even though these textbooks may be quality tomes on highly important topics, most students don’t want to hold onto them for long. And considering that they cost hundreds of dollars a semester, the bookstore should give students a break and make good on their “book buy back” promise, right? Not really—unless you consider being handed a few dollars a real resale transaction.
The university’s bookstore buys as many used books back as it can, says Bob Crabb, director of Coffman’s bookstore. The bookstore is clued in by the academic departments as to what books students will be assigned next semester and in what quantity. Once the bookstore hits its limit of how many books it needs, it will not buy any more used books back.
If a book is being sold back for the first time and a department has requested it, the bookstore will buy it back at 50 percent of the retail price. If the bookstore is buying a twice-used book, that book will bring in anywhere from 0 to 30 percent of its original retail price, depending on marketability, Crabb explains. If the bookstore hasn’t heard from a department, it will not buy that book at all.
Once the bookstore has gone through its buy back process, they visit warehouses to stock the rest of their inventory. The bookstore tries to buy used books, but sometimes they have to buy new ones to meet the demand, Crabb says.
Chances are the bookstore’s not just buying used books to be gentle with students’ shallow pockets. Bookstores generally bank a higher profit from selling used books (34.9 percent) than new books (22.5 percent), according to NACS, because both publishers and authors do not profit on used book sales, Armato says.
Textbook buy back at the Student Book Store doesn’t operate any differently, Crabb says. “Our prices are pretty much identical. We just might hit our limits at different times,” he says.
But, if Coffman has hit its limit and won’t buy a book back or seems to be offering much less than you’d like, it might be wise to check out what the Dinkytown business will offer. There are a few other options for students who want to battle the risings costs of their textbooks.
The Campaign to Reduce College Textbook Costs says that the power of keeping textbooks affordable lies mostly with the publishers. The campaign wants students and faculty to let publishers feel the heat. They suggest that faculty try to order “unbundled books,” without supplements, and reassign old editions—available used—when possible. Some states have also tried legislation to pressure publishers to offer more affordable books. Students, when possible, can order books from British Web sites, and swap with friends. Other Web sites offer ways to order and sell your books for better deals.
For more information on the Campaign to Reduce College Textbook Costs, see .