After nearly two years of anticipation, the federal textbook price
disclosure law we passed
in 2008 officially goes into effect today. This law is a
tremendous step forward in our fight for textbook affordability, because
it empowers both students and professors to save money on textbooks.
Here's a quick summary of what this law means:
First, publishers are now required to give
professors detailed information about textbook prices and revision
histories, including the dates of the last 3 editions and a list of
alternate formats. Publishers
often withheld this information, hoping professors would choose
more expensive books. Getting these details on the table will make it
easier to identify and select lower-cost options.
Second, publishers are required to sell the
components of bundled textbooks separately, so students have the option
to buy their books without unnecessary CDs, workbooks and online
pass-codes.
Third, colleges need to list the required textbooks
for each course in the catalog students use to register. That way,
students know what they're getting into, and they have more time to shop
around.
The law will save money for some students right away - the new
information will help some professors choose
less expensive books, and savvy students will have more time to track down the best
deals. Over time, the law will have even greater benefits on
textbook costs. Increased transparency will build economic pressure on
publishers, which will pave the way for competition and
eventually force them to offer more affordable options.
For more information about the new federal textbooks law, click here.
