College textbook costs reflect a phenomena in college tuition costs where subsidies and a predatory lending environment has baked these "fixed" benefits onto an already inflated market cost.
A UCSD study by Douglas Turner,who's now in the Treasury Department that found that even small adjustments in federal student aid grants would provoke sharp spikes in tuition costs. Basically universities have baked assumed benefits mainly like the GI bill, financial aid and student loans into the base cost of everything... so if the government is willing to front $10k, and the student can raise 50k via scholarships or the GI Bill and then sign up for another 50k via student loans, the universities set the tuition at the value that would capture the maximum potential of that and provide relief as necessary---doing otherwise would be "leaving money on the table". Everything in higher education, from books to housing, follow that model.
As much as I hate the predatory practices of some schools, let's not disassociate the change in culture regarding higher education and the fact that higher ed was traditionally a 'supply' based economy. In any situation where more money is willing to be paid for an object/service due to perceived value or scarcity, the costs are going to go up necessarily. The real culprit is (once again) the baby boomers here for two reasons:
1) Surplus wealth and population boom drove competition for schools once those kids hit their college years in the late '60s/early '70s. Universities could increase prices because the money was there.
2) The idiotic idea that all the boomer's kids could have a better life simply by having the opportunities their parents didn't, even though not everyone could exploit them properly (ie, become doctors/lawyers/scientists/etc.).
Both of these undercurrents (plus I'm sure to some degree the ideals of the civil rights movement if not the 1964 bill itself) led to the HEA and its amendments over that time frame because not only were costs going to rise as a huge population boom hit these schools, but also everyone felt entitled to attend even if they didn't have the capacity or the drive. Over the years this has continued without abatement - higher ed prices are absurd and only continue to rise as students and parents will literally pay
anyprice for the dubious chance to attend college -
theirchild certainly is not going to be the one without the brains to graduate! Universities have latched onto this trend and are offering less and less complicated fields of study: 'soft sciences' and 'liberal arts' as if they offer anything of value to the student who is not already driven to learn and succeed without a non-specific education.
What you have now is a situation where any 'successful' person
musthave schooling from K-16. Gone are the ideas of trades and hard work. There is a massive social epidemic going on in this country. I've seen 8/hr jobs posted on CL for admin assistants that require a BS. A baccalaureate degree for 8/hr that you could not obtain for much less than twenty thousand dollars
ifyou skimp and attend lesser for profit or certain state schools. Add to this the credit driven economy where people consider credit 'free money' and do not consider the consequences of repayment and you have a huge recipe for disaster. It's hardly illuminating to simply point the fingers at a university because they charge 'too much' when the reality is our social problems are so bad they could double their prices and the only change would be a cry for more Stafford loan allowances.
TL;DR: fuck baby boomers.