A Report on the Feasibility of Textbook Rental - IBHE

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INTRODUCTIONAcross the nation, the cost of college textbooks is a common and growing concern forstudents, parents, legislators, administrators, and faculty members. Students are faced withfinancial constraints that may deter them from purchasing course materials. Parents who pay fortheir children’s education often experience textbook purchases as “piling on” after they have beensacked by tuition, fee, and room and board payments. Faculty and administrators are faced withthe pressure of providing quality education while keeping costs down. In many states and at thefederal level, legislation has been proposed – and in some instances passed; task forces have beenformed; and studies have been undertaken with the goal of reducing students’ spending ontextbooks without sacrificing educational quality or academic freedom.Against this backdrop, the Illinois Senate of the 94 th General Assembly passed SenateResolution 692 directing the Illinois Board of Higher Education (IBHE), in conjunction with theIllinois Community College Board (ICCB), community colleges and public universities, toconduct a study of the cost and feasibility of implementing textbook rental programs atcommunity colleges and public universities as well as identifying other textbook cost-savingalternatives. The resolution required the study to examine funding options to cover start-up costs,legislation from other states, the economic impact of rental programs, and cost-saving alternativesto textbook rental programs.This report addresses the requirements of SR 692. It begins with a survey of recentresearch on textbook market trends and a summary of recent state and federal legislative activitiesregarding textbook costs. Next, it reports on existing textbook rental programs in the nation andin Illinois. Finally, it reports on the findings of a study conducted by the IBHE and ICCB on thecost and feasibility of creating new textbook rental programs in Illinois and on potential costsavingalternatives to rental programs.Market IssuesTHE TEXTBOOK MARKETThe salient consideration in examining the textbook market is the disjuncture betweenseller and consumer. During a hearing of the U.S. Department of Education’s National AdvisoryCommittee on Student Financial Assistance (ACSFA) held in September 2006, Dr. James V.Koch, Professor of Economics and President Emeritus of Old Dominion University, noted: “Thetextbook market is unusual in that the primary individuals who choose textbooks (faculty) are notthe people who pay for them (students).” Consequently, the separation between choice andpayment results in price inelasticity, meaning that students have limited ability to respond toincreasing costs. Dr. Koch noted that studies have found even a 10 percent increase in priceresults in only a 2 percent drop in sales.Congressman David Wu of Oregon made the same point when requesting that theACSFA undertake a study of textbook costs and cost-saving alternatives. Congressman Wustated that “it’s a classic broken market…the professor is making the decision, the publishers andbookstores are setting the prices and the student has no choice in the product” (Powers 2006).College bookstores are likewise in a unique situation. They have little opportunity toadjust product mix or engage in standard marketing techniques to maximize revenues.-13-
Page 1 and 2: A Report on the Fe
Page 3 and 4: EXECUTIVE SUMMARY .................
Page 5 and 6: Estimated Textbook Rental Cost Per
Page 7 and 8: EXECUTIVE SUMMARYGrowing apprehensi
Page 9 and 10: • Faculty members, administrators
Page 11: ConclusionTextbook rental programs
Page 15 and 16: increase in tuition and fees (7 per
Page 17 and 18: Source: Government Accountability O
Page 19 and 20: The IBHE’s 2006 survey found that
Page 21 and 22: ookstores, 17 percent to friends/re
Page 23 and 24: 1. provide the option of purchasing
Page 25 and 26: Student fees are collected:• as p
Page 27 and 28: CURRENT ILLINOIS TEXTBOOK RENTAL PR
Page 29 and 30: MethodologyCOSTS AND FEASIBILITY OF
Page 31 and 32: Submitted cost data are presented b
Page 33 and 34: PUBLIC UNIVERSITIES - TEXTBOOK RENT
Page 35 and 36: Under a textbook rental program, ea
Page 37 and 38: FundingSR 692 directs the IBHE and
Page 39 and 40: have a separate series so that if a
Page 41 and 42: Impact on Tax Revenue.Property Tax.
Page 43 and 44: Textbook Selection. While acknowled
Page 45 and 46: According to the Student Monitor, i
Page 47 and 48: of the exact custom book. This alte
Page 49 and 50: Current Status of Voluntary Faculty
Page 51 and 52: APPENDICES-51-
Page 53 and 54: 09400SR0692 Enrolled - 2 - LRB094 2
Page 55 and 56: APPENDIX BTextbook Study Timeline -
Page 57 and 58: Funding:1. Please provide an itemiz
Page 59 and 60: Textbook Survey - Third Party Books
Page 61 and 62: Estimated Annual Cost - Community C
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Estimated Annual Costs - Public Uni
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Estimated Textbook Rental Cost Per
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Kentucky. House Resolution 9 would
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Washington. House Bill 3034 would p
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materials to bookstores at wholesal
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ook wholesalers, stands this issue
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items sold in a package and 2) facu
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different printed text, an e-book o
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• Page 20, #5 - Education of stud
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Attn: Nicole Krneta Rogers-103-
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Spring 2007: ISBN 0-618-75386-9 Rai
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universities and the largest univer
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separately and be stuck with any co
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From: Wilcockson, Mark [mailto:M-Wi
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supports informed decision making.
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From: Brad O'Brien [mailto:bobrien@
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more used books benefits both the b
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From: Devi Prasad V.Potluri [mailto
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Comments submitted on IBHE website:
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REFERENCE LISTAssociation of Americ
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