Posts Tagged ‘Textbooks’

Money Tips from a Professional Student: On Expensive Textbooks

This is the first in a series of articles directed towards college students – both graduates and undergraduates. As a PhD student in my 5th year after being an undergraduate for 4 years, you can call me a professional student. Through various experiences, I have learned a few things that might save money and help to reduce expenses. This series is dedicated to these suggestions.

So you have a stipend or loans or money from the parents to cover your books, somehow it still doesn’t make parting with $400 for textbooks any easier. Even more painful is paying $120 for a new book and only to sell it back to the bookstore for a measly $40. I know this experience very well and I learned (as a senior) that I could have saved a fortune over the course of three years. Some of the methods I tried require more effort than others and one of these methods (using older editions) you may never try. However, the goal here is to get to keep more of that textbook money in your pocket (or bank account).

ProfStud_Book_1
  1. Buy Used Books: The most common technique is to buy used books from sites like Amazon.com, BarnesandNoble.com and half.com. These sites usually have various editions and versions of the book and connect you to other vendors (usually students) who are selling the book. A disadvantage with this method is that you may not know the required text until the professor hands out the syllabus on the first day and then you have to spend more money on shipping to receive the books on time.
  2. Contact your professor: When you aren’t aware of the required books, email the professor(s) over the break to ask about the books for the class. You can let them know you want to get them ahead of time to cut down costs. Almost all professors will oblige you. Once you get the response, go to the aforementioned sites. An added advantage to this route is that the professor will already know your name before the course begins and that never hurts.
  3. Bookstore Website: Once in a while, you come across professors with tardy responses or no response at all. In that case another option is to try your college’s bookstore website. The bookstores get the list of course textbooks way ahead of time and then list the books on their site for purchasing. Take advantage of this and look up the required books on the site and then get them cheaper from other sites. Think of this as sticking it to them for buying back your books at ridiculously low prices.
  4. Use the Library: Request the book from the school library and use it while waiting for your book to arrive from the site that you will order from. Better yet, use the book over the course of the quarter and renew it as many times as possible. In the state of Ohio, all public college libraries are linked so if you don’t find a book at Wright State University, you can rent them from from Ohio State University. Ask your school librarian if there are opportunities like this at your school. This means you should know where the library is if you don’t already.
  5. Use preceding edition(s): Something I have noticed (especially in the sciences) is that material doesn’t change much from one edition to the next especially with books that have undergone several revisions (Really good books undergo very few revisions and revisions are years apart) Changes usually involve extra examples, problem sets and pages with the subject material unchanged. When I went this route, I just made photocopies of relevant questions using my friend’s textbook. If you want to insure yourself against risk, borrow from the library to compare how drastic the changes are to help you make a decision on obtaining the newer edition. Note: If you decide to do this, make sure to check with someone in the class who has a recent copy to make sure that assignments are the same.
  6. Rent and Exchange: While writing this post, I learned about two other opportunities I haven’t tried, but are useful nonetheless.
    • A student of mine recommended chegg.com and rentabook.com which are sites where you can rent textbooks. I would advise anyone who is doing this to check the math just to make sure that it’s worth it. Sometimes it’s better to own than to rent especially in cases where you might need the book for a whole year. If you’re into nature preservation, you will like that chegg plants a tree for each book you rent. Environmental Awareness and Expense Control all at once.
    • Another student referred me to a book exchange website hosted by the school’s student senate. I am not sure if other schools have this sort of network, but I know that most schools maintain a listserv dedicated to students trying to sell their materials at really low prices. Your Resident Assistant might be a helpful resource here.

Buying textbooks are a basic part of any college student’s career and the experience is that much sweeter when you know that you won’t be breaking the bank every semester.

Coming up next in the series – Money Tips from a Professional Student: On Expensive Eating.

Image from http://www.flickr.com/photos/pleasewait/ / CC BY-NC-ND 2.0
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Check These Out – 1st Edition

From this week onwards,  on Fridays, I will put up  links to interesting articles that I have read that also provide tips on finance and development. This could be another avenue to discover other writers and sites. Enjoy!

Pay Down Debt or Invest (@ Oblivious Investor): An article about whether to begin investing first and then pay down debt or vice versa. In simple words “Put money toward whatever option will earn the greatest after-tax rate of return.” For me that means tax-sheltered accounts and debt come first. See the article for more details

Improve Yourself Every Chance You Get (@ The Simple Dollar): This blog is one of my favorite personal finance blogs to visit. In this article Trent talks about how using every opportunity to improve your current circumstances will always yield future returns. I agree, but check it yourself

11 Ways to graduate with less debt (@ MSN Money): This article lists some ways to minimize leaving college with a large hole in your pocket. Tips include Waiting till Senior Year to get a credit card, Getting a Job, Graduating in four years etc. Some things I wish I had learned when I was an undergraduate

4 Ways Students Can Save 1,000s a Year (@ Mint): The first tip the article mentiones is reduce costs of textbooks. A friend of mine just spent close to $500 on 3 books and prices are continually increasing every year. Take advantage of amazon and barnes & noble.  Although sometimes you may not know the book for the class till you start the semester/quarter, sometimes a simple e-mail to the professor will rememdy this. Some other tips in this article include “Replacing Microsoft Office” and “Legging it”.