Education Policy, Business and Technology

In the 'era of the $400 college textbook,' affordability initiatives take a utilitarian approach

Inside Highed Ed: When the University of Michigan at Flint recently took inventory of the textbooks used by students during the winter 2015 semester, it found what American Enterprise Institute scholar Mark J. Perry called a “new milestone” in the textbook affordability debate: a $400 textbook.

The outrage is not new. Perry, professor of economics and finance at the university, noted in a blog post that textbook prices increased by 161 percent between 1998 and 2014 -- more than the cost of medical care and new homes. Going back to 1978, prices are up 945 percent. With the fall semester weeks away, stories about college bookstore "sticker shock" and listicles on how to save money on textbooks are sure to pop up.

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