Thursday, September 08, 2016

College Textbook Prices Continue to Rise

The Bureau of Labor Statistics recently released updated data on the price of education in the US and if you think it costs more and more for an education then you are not alone.  The data covers all levels of education and the cost of ancillary materials such as textbooks.  In fact, according to the data, textbooks have led the growth in costs since 2006 which is the first year of this analysis. 
"From January 2006 to July 2016, the Consumer Price Index for college tuition and fees increased 63 percent, compared with an increase of 21 percent for all items. Over that period, consumer prices for college textbooks increased 88 percent and housing at school (excluding board) increased 51 percent."
Looking back even further to 1977, data from BLS suggests that textbook prices have risen over 1000%.

For interest, The College Board published a report on Trends in College Pricing that looks at "prices prices charged by colleges and universities in 2015-16, how prices have changed over time, and how they vary within and across type of institutions, states, and regions".  That report can be found via this link.

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