A Report on the Feasibility of Textbook Rental - IBHE

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“But now let’s assume the first semester students sell their textbooks back to the bookstore at theend of the semester. The bookstore may buy them for $20 and sell them as used books for $70each. The textbook publisher sells only 250 copies of the text, but still has the fixed costs of$50,000. It must now spread this $50,000 over only 250 texts. Thus, just the fixed cost price ofthe text has jumped to $200. Even selling it at cost to the bookstore means the bookstore will sellit to the student at $267. This assumes a conservative 25% markup by the bookstore.“Now we can see what is happening. The expansion of the used textbook market has contributedsignificantly to the increase in the price of new textbooks. While students think they are “saving”money by selling their texts and/or buying used texts they are, in fact, making the problemworse.”This is not a matter of pointing fingers but of perspective. Follett is a used book dealer and makes greaterprofits on used books than on new books and, as would be expected, supports practices that increase thesale of used books. Publishers have fixed costs that can be recovered solely through the sale of newcourse materials so, of course, they are supportive of the sale of their new products.LEGISLATIVE INITIATIVES ON TEXTBOOK COSTSConnecticut• Page 19, para. 1 – The recap of the Connecticut law is incorrect. House Bill 5527 requirespublishers to make the wholesale price of products available to faculty. Publishers cannotprovide the price of course materials at the bookstore, as bookstores markup publisher productsdifferently.Virginia• Page 20, para. 1 – The law does not say “employees…may not benefit financially from theselection of required textbooks.” It stipulates that “No employee at a Virginia public college oruniversity shall demand or receive any payment, loan, subscription, advance, deposit of money,services or anything, present or promised, as an inducement for requiring students to purchase aspecific textbook required for coursework or instruction; with the exception that the employeemay receive (i) sample copies, instructor's copies, or instructional material, not to be sold; and(ii) royalties or other compensation from sales of textbooks that include such instructor's ownwriting or work. Please note the stipulation that sample texts are not to be sold. The sale ofsamples is an insidious process that increases the price of textbooks.• Page 20, #2, – The law does not say that textbooks must be made available separately from othermaterials. The Virginia guidelines state, “If the faculty member does not intend to use each itemin the bundled package, he shall notify the bookstore, and the bookstore shall order theindividualized items when their procurement is cost effective for both institutions and studentsand such items are made available by the publisher.”• Page 20, #5 – House Bill 1478 does not require sample copies be available. Rather, it states,“provisions for the availability of required textbooks to students otherwise unable to afford thecost.”Washington• Page 20, para 1 – “The five primary provisions…are.” -- For clarity, we suggest you change thisto read: “The five primary provisions, which apply only to bookstores, are:”• Page 20, #2 – This requirement is obsolete because differences between editions are already listedin the foreword of textbooks.-78-
• Page 20, #5 – Education of students still remains paramount. No. 5 is applicable only when“educational content is comparable.”TEXTBOOK RENTAL PROGRAMSRental Program Benefits• Page 23, paragraph 1: “…rental programs are significant.” -- We suggest this be changed toread: “rental programs CAN BE significant.”Environmentally Responsible• Page 23 – Rental programs do not ensure that fewer copies of textbooks will be printed.Faculty Concerns About Adoption Periods• Page 24 – The use of supplementary materials should play a larger role in this assessment ofrental programs. Eighty-six percent of faculty either require or recommend that students usesupplementary materials, according to Zogby International’s poll of faculty in September 2006.The cost of these materials should be factored into any estimated rental program costs.COST SAVING ALTERNATIVES TO TEXTBOOK RENTAL PROGRAMSBook Buy-Back Programs, page 39• Book buy-back programs can reduce the cost of textbooks for students in the near term. It isimportant to note that the fixed costs associated with textbook development must be spreadacross the number of products sold. With more used textbooks on the market, fewer newtextbooks will be sold, which will eventually require publishers to raise the price of texts tocover costs and make a reasonable profit.• Bookstores typically markup used books around 50 percent and make a higher margin of profiton used books than on new books.• New editions do not automatically foreclose the ability of students to sell back textbooks. Asseen on MBS’ website, used book wholesalers will purchase old editions if faculty adopt them.“Old editions, dropped adoptions, and low-value titles don't have to be a nuisance duringbuyback time. If you're signed up for MBS Custom Buyback and we find late-breaking nationaldemand for previously unlisted or "problem" titles, we'll price them accordingly so you don'thave to turn them away.”Polices for Administration and Faculty MembersReserves, page 40• If libraries were forced to have all textbooks on reserve, the fiscal burden on institutions would beheavy. Libraries would be responsible for the storage, cataloguing and care of these books,increasing staffing costs and storage needs. Librarians are typically opposed to any attempt tomandate their responsibility for textbooks.Public list, page 40• Publishers already make available a list of changes between editions, both online and in theforeword of texts.Policies for PublishersComplimentary Copies, page 41• As stated above, publishers cannot be required to provide free sample copies.-79-
Page 1 and 2:
A Report on the Fe
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EXECUTIVE SUMMARY .................
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Estimated Textbook Rental Cost Per
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EXECUTIVE SUMMARYGrowing apprehensi
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• Faculty members, administrators
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ConclusionTextbook rental programs
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INTRODUCTIONAcross the nation, the
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increase in tuition and fees (7 per
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Source: Government Accountability O
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The IBHE’s 2006 survey found that
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ookstores, 17 percent to friends/re
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1. provide the option of purchasing
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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: different printed text, an e-book o
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Page 103 and 104: Attn: Nicole Krneta Rogers-103-
Page 105 and 106: Spring 2007: ISBN 0-618-75386-9 Rai
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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.
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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
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A Report on the Feasibility of Textbook Rental - IBHE

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