The cost of college textbooks

The Wall Street Journal has an article this week re the financial aspects of going to college, which included the following observations:

With the cost of some new textbooks crossing $200, the big campus booksellers are jumping into the rental business, which was dominated by online companies like Chegg.com. After a 25-store test this spring, Barnes & Noble College Booksellers says that more than half of its 640 stores will begin renting some textbooks this fall, while Follett Higher Education Group is launching rentals at about 700 of its more than 800 campus stores.

Though selection will be limited to newer and more expensive books, rental prices should be less than half the price of a new book. Students have to open an account backed by a credit card and they may be charged the full price if the book isn't returned on time.

The price differences can be dramatic. At Georgetown University's bookstore, an introductory psychology book costs $134.25 new, $100.75 used and $60.41 to rent for a semester. A digital version sells for $31.50.