Here I'd like to discuss a textbook exchange project I've been working on which some of you may be interested in helping develop.
Before I explain the project, I first would like to present some facts:
1. There are approximately 17 Million college students in the U.S.
2. On average, each student pays $898/year for textbooks (CALIRG, 2005)
3. Retail bookstores make a 35.1% profit on the sale of used textbooks, on average (NACS study)
4. 1986-2004: Textbooks rose 186%, or 6% a year
5. 1986-2004: Other prices rose 3% (GAO study)
6. 50% of original price - Typical bookstore buyback price of a book originally bought new (Koch report)
7. 10% to 15% of original price - Typical bookstore buyback price of a textbook originally bought used (Koch report)
I've asked myself and others to think about the follow two questions:
Q1: Does the 35.1% profit retail bookstores make on 17 million college students seem best for students?
Q2: Is there a way for students to purchase textbooks for less than $898/year or is $898/year the lowest possible price?