Over the past 20 years, the average price of textbooks has nearly tripled. College students now spend $1,000 a year on textbooks, and for some majors it can be up to $2,000. This dramatic rise in textbook prices is a significant contributor to the increase in overall cost of college education. To remedy this, I'm offering this amendment today with Congressman Ryan. Our amendment creates a pilot program to award 10 competitive grants to establish rental textbook programs. Rental programs could reduce textbook expenses by up to 75 percent. A recent report by the Advisory Committee on Student Financial Assistance highlighted textbook rental programs as a way to significantly reduce textbook expenses. The same report noted that the primary obstacle to these programs is the start-up costs associated with implementing them. The Ryan-Altmire amendment will enable institutions to create textbook rental programs and, as a result, save students money. I encourage all of my colleagues to support it.
Editor's note · Context
Discussing the rising costs of textbooks and proposing a pilot program for rental textbook programs.
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