Covering the Cost
A new study by the Student Public Interest Research Group reveals how much federal financial aid is going to the textbook companies.
Key Findings from the Report:
- Almost one-third (30%) of students replied that they had used financial aid to pay for their textbooks.
- For those that used financial aid, the amount of financial aid dollars they put toward purchasing textbooks was more than $300 on average per semester.
- Textbook prices disproportionately impact community college students: 50% of students report using financial aid for books at community colleges, compared to 28% at 4 year public schools. And, on average, community college students use more financial aid than their peers at 4 year schools.
That means that nearly 5.2 million U.S. undergraduate students spend a total of $1.5 billion dollars of financial aid on textbooks every semester, or $3 billion per year.
The report discusses potential solutions, and lays out recommendations for decision-makers on all levels.
Review and Summary of Current Research
Summary of all known empirical research on the impacts of OER adoption. Abstracted from of an article submitted for publication in a peer-reviewed journal. New articles added as they are published.