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Essay / Rising Cost of College Textbooks - 1982
Ask any student to name one of their biggest expenses and it would be safe to bet the answer would be "Textbook prices!" » The cost of purchasing the materials needed for courses has reached figures high enough to encourage many students to take out a second loan. Information released this year by the American Enterprise Institute shows that "textbook prices have risen faster than college tuition, health care costs, and real estate prices, all of which have risen faster than inflation” (Kingkade, 2013). This information equates to an 812% increase in the cost of textbooks compared to just over thirty years ago (Kingkade, 2013). The chart below shows an unusually large increase, which far exceeds that of average inflation. Combine this information with the equally troubling information published by Bloomberg that "tuition and fees have increased 1,120% since records began in 1978" and a serious financial problem emerges for students (Huffington Post , 2012). One thing should be clear in light of these statistics: something must be done to help ease the financial burden placed on today's students. Given the implications of these two numbers, the University of Delaware should attempt to address the rising cost of textbooks as soon as possible before they overwhelm students more than they already have. In order to help reduce these uncontrollable costs, this establishment should pursue a policy similar to that practiced in secondary and primary schools, i.e. a sort of loan program. To better understand why implementing such a loan program would be more beneficial for students it is necessary to understand why textbook prices have gotten out of control. The problem lies in the publication of the textbooks... middle of paper ... the university needs to stop requiring packaged materials and move away from textbooks that require one-time access codes. Additionally, they can reuse textbooks for multiple semesters because the basic information remains the same from one edition to the next, eliminating the need to constantly replace stock with each new edition. Students would be held responsible for the condition of their assigned book and would also have the option to keep it at the end of the semester. In either case, the school has options to recoup the cost of the textbook if a student destroys or decides to keep a specific book. By implementing such a program, University of Delaware students will be less likely to resort to illegal measures to save money, and they will certainly be less likely to fall into even greater debt as tuition fees increase. education continues to increase..