College is expensive as-is. Add in the high prices for living on-campus and supplies, and you are already broke. Now add in the price of books: Yikes.
As students head back to school at the end of the month, they have to look forward to sky-rocking book prices.
Why are these things so expensive?
Here are a couple reasons:
1. 5 publishers control 85% of textbook market. So they control the market price.
2. The typical price for a book to be made is 3 million dollars. This includes several years of research, compiling a bunch of brilliant people, and TONS of editing.
3. Students are considered 'captive consumers.' They have to buy whatever books they're assigned, and so the prices can be raised without much
NBC's review of Bureau of Labor Statistics (BLS) data, textbook prices have risen over three times the rate of inflation from January 1977 to June 2015, a 1,041 percent increase.
BUT. There is hope for the future!
More classrooms are completely dropping textbooks and going with a new way of learning: online books, photo copies, videos, other online learning tools.
The future of textbooks is looking pretty grim, but maybe we can turn it around with new was to learn.