college

4 ways to slash college textbook costs

Rent books

Thanks to such Web sites as CampusBookRentals.com, BookRenter.com and Chegg.com, it's easier than ever to find textbooks for rent.

"Textbook rentals are a very good way to save students money immediately, but it was always difficult to set them up on campuses because they had such a high overhead cost," Allen says. "Maintenance is difficult, and you need a lot of faculty buy in because they have to commit to using a single book for a long period of time. But when you look at a national Web site that is able to cater to a number of different universities and a number of different classes, that overhead cost-per-book goes down."

One drawback to renting is that supplemental materials such as student access codes, CD-ROMs or workbooks may not be available.

Recently, a faculty member at a Michigan school took a shot at launching a book rental business for his own class.

"I noticed in looking at textbooks that they change editions and sometimes the new edition isn't all that different than the old edition," says Steve VanderVeen, director of the Center for Faithful Leadership and professor of management at Hope College in Holland, Mich. "They may have new bells and whistles, but those new features may not actually add value, at least from the perspective of what may be needed for a particular class."

VanderVeen got the idea to approach the college bookstore about buying bulk copies of an older edition of a marketing case study book and renting them to his students.

"We paid between $40 and $50 for these textbooks (which retailed for about $100), and then we turned around and rented them to the students for about $30," VanderVeen says. "The bookstore took a small cut."

VanderVeen is no longer teaching that particular course, and the new instructor doesn't use the same textbook and hasn't tried the rental idea. VanderVeen does allow some students to borrow books in other courses, but at no charge.

And that points to another possible money-saving solution: borrowing textbooks from professors, students or the library.

Download digital resources

Open Educational Resources, or OER, used by teachers from elementary school through the university level, enables educators to use materials without the authors' express permission. Resources include digital textbooks created with a special licensing agreement that allows them to be copied, and in some cases even modified or repurposed. Just like regular textbooks, open textbooks, also called free textbooks, are written by credentialed faculty members and are peer-reviewed, according to Making Textbooks Affordable.

"Open textbooks really are the fundamental solution," says Allen, who believes this emerging development holds the greatest promise for a long-term solution to controlling textbook costs. "What they do is open up a connection between the publisher and the consumer. Publishers will create the books, but they have to make them free, and then they also can sell products (for example, printed versions of the books) to students."

This represents a radical departure from the usual way textbook publishers do business. Allen acknowledges that traditional publishers are reluctant to "part with their current business model." But new publishers entering the marketplace see a void that needs to be filled.

The selection of open textbooks on the market is still fairly limited, Allen says. Two current sources are Textbook Media and Flat World Knowledge.

Textbookmedia.com places advertising in existing textbooks from participating publishers to pay for their licensing and distribution as open resources. Students can access the ad-filled textbooks online at no cost, or get ad-free e-books, printable e-books and chapters and paperbacks for a fee. The site lists about 30 titles, primarily in business, economics and math.

Flat World Knowledge publishes its own textbooks using the OER model. The first was published in spring 2009, and 30 more are in line to come out over the next year, says co-founder and chief marketing officer Eric Frank. Starting with a focus on business and economics, the company will branch into projects in the humanities and sciences beginning in the fall. Students can get the free digital version of a book, purchase a softcover printed book for under $30, or download and print individual chapters for $1.99 each.

So far, Frank has a roster of 250 faculty members at about 200 schools that plan to use Flat World Knowledge textbooks in their fall classes, and he expects the number to increase significantly by then.

"The fact that Flat World Knowledge has emerged is really promising," Allen says. "We hope that more textbook publishers will follow in their path."

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