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Everyone knows that textbook prices are out of control even with new options in recent years like textbook rentals and buying used textbooks online.  The average college student spends around $900 per year on textbooks with publishers trying to raise prices with “enhanced” unnecessary features like pass-codes, CDs, and other content not required.  Textbook publishers deploying such tactics have caused the prices of textbooks to raise four times faster than inflation.  However, what can college students do to reduce the costs of textbooks?

A group of students, faculty and various organizations launched an awareness program called “The Textbook Rebellion“.  This movement included two mascots and events planned at 40 campuses in 14 states to raise awareness of high textbook costs and help explore options.  The movement hoped to get at least 10,000 signatures on its textbook rebellion petition.

The idea is to no longer have $200 textbooks and promote ways that students can save money on textbooks by finding cheap textbook options like open source textbooks, buying college textbooks online, and finding the best textbook rental web sites.  A recent study by the Student PIRGs found that nearly 70% of college students are not purchasing at least one book for class because the cost is too high, despite the fact the nearly 80% of students felt they would do worse in the course without the required textbook.

The Textbook Rebellion visited the following schools promoting ways of finding cheap textbooks:

Wed 8/31 – University of Maryland

Thu 9/1 – Rutgers Camden NJ

Fri 9/2 – Rutgers Newark NJ, Rutgers New Brunswick NJ

Tue 9/6 – UConn Storrs, UConn Hartford, Trinity College

Wed 9/7 – UMASS Amherst, Worcester State College

Thu 9/8 – UMASS Boston, Boston College

Fri 9/9 – UMASS Lowell, Salem State College

Mon 9/12 – UMASS Dartmouth

Wed 9/14 – Indiana University

Thu 9/15 – University of Wisconsin Madison

Fri 9/16 – Truman College, Wilbur Wright College (City Colleges of Chicago)

Mon 9/19 – Colorado University Denver, Colorado University Boulder, Colorado University, Colorado Springs

Tue 9/20 – University of New Mexico

Wed 9/21 – University of Arizona, Arizona State University

Thurs 9/22 – University of California Los Angeles, University of Southern California

Fri 9/23 – University of California Irvine, University of California Riverside

Mon 9/26 – University of California San Diego

Tue 9/27 – University of California Santa Barbara

Wed 9/28 – University of California Santa Cruz

Thu 9/29 – University of California Berkeley

Fri 9/30 – De Anza College, City College of San Francisco

Mon 10/3 – University of California Davis

Tue 10/4 – Southern Oregon University

Wed 10/5 – University of Oregon, Lane Community College

Thu 10/6 – University of Washington

Fri 10/7 – Evergreen State College

Numerous colleges are already offering textbook rentals at campus bookstores many of them run by BookRenter or Rent-a-Text.

How to find the best online college textbook rental web sites to get cheap textbooks:

Here at RentScouter, we are constantly searching out the best online college textbook rental web sites for those of you seeking cheap textbooks and might not have a local book rental program.  Additionally, you should always get a textbook rental price comparison online to compare to local prices for renting or buying textbooks online.

We compare prices for new, used, ebook, and college book rentals to help you find the cheapest textbooks possible.  Hundreds of online textbook web sites are searched, including Amazon, Abebooks, eBay, and many other textbook retailers.  A textbook rental can definitely save you money up-front, but remember if you buy a textbook online or at a bookstore you are able to sell back your book for cash.

In a similar manner, if you rent or buy textbooks online make sure to get a textbook buy back price comparison so you do not sell your books to cheaply.  Use our book sell back price comparison to learn which online web site will pay you the most for your college textbooks once you are done with finals, or if you have dropped a class after mid-terms.  Remember that generally, the earlier you sell back your book the price you will get before the market becomes flooded with copies of your textbook reducing the cash prices buyback companies will pay for your college books.

 Search online to find the best college textbook rental web sites compared to buying textbooks online for cheap textbooks.

As we previously reported Nebraska Book Company (NBC), a textbook wholesaler based out of Lincoln, Nebraska, filed for bankruptcy and hoped to obtain funding to allow it to emerge from court protection.  The JournalStar is reporting that NBC is having difficulty finding anyone to loan it the funds required to leave bankruptcy court protection.  NBC has been seeking up to $250 million required by the court approved reorganization planned scheduled for October 4th, 2011.

According to court filings the company said the following about its inability to find funding:

various macroeconomic indicators, including a tightening of capital markets, as possible concerns with the debtors’ procuring the exit financing at this time

How about just being out of touch with current trends towards finding cheap textbooks by buying textbooks online or with textbook rentals?  NBC officials chastised college students seeking anything other than high priced new textbooks from NBC as “value shoppers” – so they seem to be stating that anyone not wanting to pay their high-priced textbook store prices must a shopper they don’t want?  Pretty sure people will be happy to not hand over their hard earned money to NBC via any of the over 290 college bookstores it operates throughout the country.

Not surprisingly, potential lenders want to see how NBC recently performed during the recent textbook high season.  However, sales of books for August and September in it’s textbook stores will not be fully reported till later in October.  NBC said it can take several more weeks before it can “get behind” the numbers – sounds a little sketchy.

Apparently, the confirmation hearing has been pushed back to October 27th, 2011 to review the current plan which was to remove $150 million of debt from their balance sheet.  The plan involved exchanging current debt for new debt in the form of cash and new stock issuance once the first and second lien holders had been paid in full.  The stock would be divided amongst subordinated noteholders of the operating company and holders of notes by the holding company.

According to our industry contacts NBC was known as the dinosaur of the textbook supply market – very slow to adopt technological change and very hard to work with regarding any new ideas.  It would appear that their set ways is sending them the way of dinosaur as I doubt any potential lender that takes a serious look at the marketplace would want to invest in an antiquated company when MBS, SE Textbooks, or other companies could easily fulfill any void left by NBC.  There is certainly money to made with the college bookstores that NBC owns and operates if they adopt different practices, but with the bankruptcy of Borders the value of brick and mortar bookstores is certainly something question.