College textbooks breaking the bank

The U.S. Government Accountability Office (GAO) says that enhanced offerings, such as CD-ROMs and other instructional supplements, are driving up college textbook prices. "Wholesalers, retailers, and others expressed concern that the proliferation of supplements and more frequent revisions might unnecessarily increase the cost to students," according to a report to congressional requesters. And they may have reason to fret. The cost of college textbooks swelled 186 percent from 1996 to 2004, while the rate of inflation grew only 72 percent during the same period.

The GAO says the increases in college textbook prices follow even steeper increases in tuition and fees. Of course, this adds to the growing burden of debt for students. And not surprisingly, 64 percent of students responding to the 2005 Veterinary Economics Student Study anticipate having more than $75,000 in debt when they graduate. (To better understand new associates' concerns and how to position your practice to appeal to the next generation of doctors, see "Bridge the Gap for New Grads".)