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New trends in course materials aim to help Millennials

A new report reveals that the cost of student course materials are down thanks to flexible price comparison technology, as well as other student spending behaviors.

student-course-materials [1]According to a new report from the National Association of College Stores [2] (NACS), annual student spending on college course materials in the U.S. has declined steadily over the past seven years. However, the number of required materials have remained steady.

The information comes from the Spring 2015 edition of the twice-yearly survey called Student Watch: Attitudes and Behaviors toward Course Materials, which revealed that the average annual spending from surveyed college students on required materials has dropped from $701 in 2007-2008 to $563 in 2014-2015, down $75 from 2013-2014’s $638 average.

“Many cost estimates are based on purchases of new materials, but the reality is that because of the myriad options students have today – rentals, digital, used and print-on-demand – what students are actually spending is much less than what is generally reported,” said Elizabeth Riddle, director of OnCampus Research for NACS subsidiary indiCo. [3] “Campus stores–the leading resource for acquiring course materials–also have implemented more effective buying practices, increased used books and rental programs, and offered materials in multiple formats to help ease students’ burden.”

It is important to note that freshman take the hardest financial hit on textbooks, technology and school supplies, since they are starting from scratch. Additionally, a student’s major dictates spending to some degree, with Health and Political Science topping the charts at $800 per year while Humanities majors spend the least at $550 a year.

Other factors influencing the trend in declining student spending include faculty being more aware of student cost concerns; faculty working with campus stores to source less costly materials in use for multiple semesters; college stores increasing used course material options and enhanced buyback pricing; and the growing prevalence of free Open Educational Resources (OER) and digital formats online.

(Next page: where students fall on print vs. digital, and other course material trends revealed)

Digital vs. Print

When it comes to print vs. digital formats for course materials, a student’s personal preference is key. Despite the fact that they generally carry a higher price tag, 46 percent of students reported that they prefer print course materials because of familiarity and the ability to physically use them.

Still, digital course materials are slowly but steadily seeing greater adoption, with a 3 percent increase in use this academic year alone. Students who choose digital course materials most appreciate the convenience of mobility, with price and versatility of digital functionality (such as search and find) listed as other major benefits. Students in the survey also stated that they appreciate the interactive nature of the materials, which they indicated improves their ability to study and learn the coursework.

Price vs. Number of Materials

Although student spending on course materials is down, the number of course materials acquired has remained consistent across fall academic terms. In Fall 2009, students obtained 5.3 course materials on average, which, despite a drop to 5.0 in Fall 2013, was the same average recorded in Fall 2014 (these numbers exclude course materials obtained for free through borrowing, sharing, or downloading illegally).

“This is a true reflection of a decrease in prices,” said Riddle. “This number has remained relatively consistent over time; however, student spending on course materials has continued to drop. So this information suggests that on average, the cost of course materials is slowly decreasing while the number of required course materials students are obtaining for each class may be slightly increasing.”

Savvy Shopping Thanks to Tech

Overall, students surveyed have also become savvier shoppers, spending more time researching affordable options through multiple outlets thanks to the use of price comparison technology. Many college websites host such software, which compares prices of new or used course materials for purchase or rent both in-store and online with many online-only retailers, enabling students to make the best choices at their own convenience.

College Bookstores Still King

However, as to where students are ultimately buying course materials, college stores remain the top choice among students for in-person and online purchases, rentals, and end-of-term returns, notes the report. Students obtain the largest portion of their course materials from the campus store over any other source, with 66 percent having purchased at least one course material there.

Of students who made a purchase at the college store, 55 percent were loyal to the store and did not shop elsewhere, allowing college bookstores to maintain the largest market share for course materials in both units and dollars. Campus stores also maintain the lion’s share of the rental business, claiming nearly half of online book rental shoppers alone.

The Student Watch survey is conducted online each fall and spring term after being distributed to students via e-mail from campus stores. The Spring 2015 survey received 9,647 valid responses in February 2015 from 23 campuses across 16 states, including both public and private and two-year and four-year degree programs, as well as schools of different enrollment sizes and geographic locations.

Take a look at the entire report, and infographic, here [4].