With textbook prices continuing their skyward climb, the Government Accountability Office has found that the price of textbooks in the United States has risen at a rate more than double that of inflation.
Since 1986, the price of textbooks in the United States has increased 186 percent.
The study examined overall textbook prices, reasons for price increases and why textbooks can be bought at lower prices abroad.
While overall prices have increased an average 3 percent per year over the last two decades, textbook prices climbed at twice that rate. However, post-secondary education tuition and fees increased even faster -- at about 7 percent per year -- amounting to a 240 percent rise.
At private, four-year schools like Penn, "first-time, full-time students '¨« were estimated to spend $850 for books and supplies in their first year," the report stated.
The study -- which included interviews with industry executives -- found that the main reason for the increase in prices was investment in product enhancements. Publishers especially stressed the high cost of providing high-tech education supplements, such as online or self-assessment tests.
However, while few questioned the quality of these study aids, some retailers have expressed concern about "bundling" -- selling supplements and textbooks in one package without allowing students the option of only purchasing the textbook at a lower price.
Another drawback of bundling is that retailers often only allow returns on sealed bundles, leaving students who drop a class to bear the burden of the paying for the bundle.
According to Jillian Schoene, a spokeswoman for for Congressman David Wu (D-Ore.) -- who ordered the report -- the data clearly demonstrate "the need for publishers to provide textbooks and supplementary materials unbundled."
A new Department of Education committee will continue to investigate textbook prices, she said.
Meanwhile, the University is doing its part to keep prices down, Business Services spokeswoman Rhea Lewis said.
"The Bookstore is '¨« trying to get more used textbooks, give students more money during buy-back -- which will cut down on overall prices -- as well as offer textbooks without the [supplements]," she said.
In addition, Bookstore employees have been working to get book orders as early as possible, which better allows them to find used editions of the text and give students higher buy-back prices.
The report also found the frequency of textbook revisions has helped drive the overall increase in prices.
While textbooks were updated every four to five years a decade or two ago, they are now updated every three to four years. This makes it more difficult for students to sell books back to the bookstore -- which cannot buy a book once a newer edition has been released -- or to other students.
However, publishers believe that they must keep their books up to date, or professors may choose to use a competitor's product.
According to a study conducted by the Association of American Publishers, 80 percent of professors polled believe it is important that textbook material be as current as possible.
Yet the report found that this may not be true across all disciplines. Some science and math classes may have little need for new information every year.
The study also found that textbooks are cheaper overseas for a variety of reasons.
The price often changes with market conditions, meaning that in countries where there is less demand and ability to pay, publishers may decide to offer books at lower prices.
Yet publishers may lower prices even in wealthy countries.
"In addition to income levels, differences in instructional styles and systems of higher education influence publishers' pricing decisions," the report stated.
In the United Kingdom, for example, education is highly subsidized, making students less willing to spend out of pocket on books.
The study concluded that publishers are able to sell at lower prices abroad because "publishers typically incur substantial costs in order to develop textbooks, but once these development costs have been undertaken, the additional cost of producing more copies is quite low."
While geography has usually stopped students from purchasing books from overseas sources, new technology such as the Internet has allowed students to access these lower prices.
Publishers have since begun working to limit reimportation, a practice which Wu spokeswoman Schoene said might become the target of federal legislation.
With increased competition on the horizon, Penn officials promise to continue working to lower prices for students as well.
"Students are very educated consumers, so we know that they will probably choose the options that are most economical for them. We are trying to make sure the Bookstore is an economical [option] for them," Lewis said.
