A Report on the Feasibility of Textbook Rental - IBHE

More documents

Recommendations

Info

community college reports that it was seldom offered a choice from publishers to order bundleditems separately (IBHE Survey 2006).In an August 2006 survey of 502 professors at two-year and four-year institutionsconducted for the Association of American Publishers, polling firm Zogby International foundthat 53 percent of respondents required use of supplemental materials in their classrooms, 33percent recommended that their students use supplemental materials, 12 percent did neither, and 3percent were not sure what they do with supplemental materials (Zogby 2006). Interestingly, thepercentage of faculty requiring textbooks dropped from 87 percent to 81 percent from a similarsurvey conducted by Zogby International in 2004, while the percentage of faculty requiring theuse of supplemental materials increased from 46 percent to 53 percent.New EditionsWhile no one would suggest that textbooks should not be kept current with new advancesin knowledge and pedagogy, new edition adoptions generally increase student costs because newtextbooks are generally more costly than used textbooks. New editions reduce the market on usedtextbooks because it is more difficult to sell older editions when new editions are adopted.The amount of time between the release new textbook editions has become shorter.Currently, new editions are generally released every three to five years. The standard 10 to 20years ago for the release of new editions was generally every four to five years (GAO 2005).Zogby International asked faculty members whether the timing for the release of new editionswas “about right, too frequent, or not frequent enough” (Zogby 2004). The faculty membersresponded:• about right (48 percent);• too frequent (35 percent);• not frequent enough (8 percent); and• uncertain (9 percent) (Zogby 2004).There is a strong correlation between the life of a textbook and revenue from sales. Thelonger the life of a textbook, the lower the revenue generated from sales. A longer life meansmore used copies are available, thus reducing revenue from sales. According to the GAO,“publishers estimated that in the second year of an edition, they might sell 25 percent to 70percent of the textbooks that were sold the first year” (GAO 2005).Textbook SpendingThe average total cost students actually pay for textbooks is currently under debate.According to GAO, first-time, full-time students at four-year public institutions spent $898 ontextbooks and supplies during academic year 2003–2004 (GAO 2005).The 2006 survey conducted by the IBHE found that the average annual gross textbookcost to students at community colleges was between $941 and $1,027. These figures are the initialcost for textbooks and do not take into account a student selling back textbooks at the end of thesemester. Since the majority of students participate in buyback programs, the final cost would beless for these students. In comparison, if textbook rental programs were implemented atcommunity colleges, the average estimated annual mandatory textbook rental fee, excluding debtservice to repay money borrowed for start-up costs, would be $337.-18-
The IBHE’s 2006 survey found that the average annual gross textbook cost to students atpublic universities was between $735 and $891. With the exception of one institution, thesefigures are for the initial cost of textbooks and do not take into account a student selling backtextbooks at the end of the semester. Since the majority of students participate in buybackprograms, the final cost would be less for these students. In comparison, if textbook rentalprograms were implemented at public universities, the average estimated annual mandatorytextbook rental fee, excluding debt service to repay money borrowed for start-up costs, would be$305.According to the College Board, the 2006-07 national average cost for books andsupplies at two-year institutions is $850 and at four-year public institutions $942. The Midwestaverages for books and supplies at two-year and four-year institutions are $817 and $877,respectively (College Board 2006). Finally, according to the National Retail Federation, studentssurveyed anticipated spending an average of $702 annually for textbooks in 2005 (National RetailFederation 2006).The Student Monitor, a market research service, reports that total textbook spending hasseen a slight increase since 2001 (Student Monitor 2006). The table below, taken from theStudent Monitor report, illustrates new, used, and total textbook spending per semester among allstudents from fall 2001 to fall 2005.TEXTBOOK SPENDING$400$350$300$250Spending$200$150NEWUSEDTOTAL$100$50$0Fall 2001 Fall 2002 Fall 2003 Fall 2004 Fall 2005TermSource: Student Monitor 2006As students are faced with increasing financial constraints, many choose to comparisonshop and often turn to online sources, such as Amazon.com. According to the Student Monitor, inspring 2006, 69 percent of students purchased textbooks from on-campus bookstores,-19-
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 and 12: ConclusionTextbook rental programs
Page 13 and 14: INTRODUCTIONAcross the nation, the
Page 15 and 16: increase in tuition and fees (7 per
Page 17: Source: Government Accountability O
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
Page 63 and 64: Estimated Annual Costs - Public Uni
Page 65 and 66: Estimated Textbook Rental Cost Per
Page 67 and 68: Kentucky. House Resolution 9 would
Page 69 and 70:
Washington. House Bill 3034 would p
Page 71 and 72:
materials to bookstores at wholesal
Page 73 and 74:
ook wholesalers, stands this issue
Page 75 and 76:
items sold in a package and 2) facu
Page 77 and 78:
different printed text, an e-book o
Page 79 and 80:
• Page 20, #5 - Education of stud
Page 81 and 82:
-81-
Page 83 and 84:
-83-
Page 85 and 86:
-85-
Page 87 and 88:
-87-
Page 89 and 90:
-89-
Page 91 and 92:
-91-
Page 93 and 94:
-93-
Page 95 and 96:
-95-
Page 97 and 98:
-97-
Page 99 and 100:
-99-
Page 101 and 102:
-101-
Page 103 and 104:
Attn: Nicole Krneta Rogers-103-
Page 105 and 106:
Spring 2007: ISBN 0-618-75386-9 Rai
Page 107 and 108:
-107-
Page 109 and 110:
universities and the largest univer
Page 111 and 112:
separately and be stuck with any co
Page 113 and 114:
From: Wilcockson, Mark [mailto:M-Wi
Page 115 and 116:
supports informed decision making.
Page 117 and 118:
-117-
Page 119 and 120:
From: Brad O'Brien [mailto:bobrien@
Page 121 and 122:
more used books benefits both the b
Page 123 and 124:
From: Devi Prasad V.Potluri [mailto
Page 125 and 126:
Comments submitted on IBHE website:
Page 127 and 128:
REFERENCE LISTAssociation of Americ
show all

A Report on the Feasibility of Textbook Rental - IBHE

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?