Page 66 - Crisis in Higher Education

40 • Crisis in Higher Education

Like most people, students are rational decisions makers, so they find ways
to spend less. They search for used books, which can cost half the price of
a new book, possibly less. This causes companies who publish textbooks to
create new editions every three or four years to eliminate the used book mar-
ket. Aggressive students respond by seeking out the older editions, which can
be purchased for very little. Often, the changes between editions are not sub-
stantial, so students can make it work. As technology advances, options exist
to rent hardcopy textbooks for the semester or to purchase or rent e-books.
In some cases, two or more students share one copy of the textbook. In other
cases, students try to find a copy of the book in a library or simply not buy the
book and hope to get by. Usually, the students’ educations suffer.
A way must be found so that students can take advantage of their expen-
sive education by learning as much as possible, yet keep the costs of books
and other learning materials low. Part of the answer is new ideas that use
computer technology and the Internet to gain access to a warehouse of
information and interactive videos. Course materials from a variety of
sources should be available to students electronically and “printable on
demand.” Some book publishers and new startup companies are break-
ing ground in this area. Universities as well as their administrators and
faculty must become active and enthusiastic supporters of these ideas.

2.5 COST OF ROOM AND BOARD
Basic living expenses such as shelter and food are required for all students.
Students can reduce the cost of their education substantially if they live close
to a public university, want to save money, and have parents or someone
willing to provide them with “free” room and board. The downside is that
students miss the transitional maturation process of living away from home.
Table 1.1 in Chapter 1 shows that in-state students at public universities
1
would save about 40% by living at home. Because most of the board costs
and a large part of the food cost, such as preparation, do not change if one
more person lives in a household, the out-of-pocket costs to the parents or
person(s) providing the “free” room and board are modest. The good news
is that room and board costs at universities have not increased at the same
blistering pace as tuition, fees, and textbooks.
Table 2.2 provides CPI data that apply across all colleges and universities
and illustrate that tuition, fees, and books have risen much faster than the