This summer, Pearson announced it will transition to a “digital-first” model where their future textbook releases will primarily be in continually-updating digital formats. On the heels of an announcement that McGraw-Hill and Cengage will merge, this decision highlighted a large problem for textbook providers: how to expand access and reduce costs.
Of course, it’s worth noting that while Pearson states they are “commitment to lowering the cost of higher education,” nearly two-thirds of their revenue now comes from digital products.
These decisions directly impact the two-thirds of faculty reported requiring textbooks (and nearly half requiring articles/case studies in their classes according to one study). So as faculty and students feel the pressure of skyrocketing textbook price inflation, the majority of students who do not have access to textbooks cannot do so because of cost. In fact, in one survey, 65% of students reported skipping buying a textbook because of costs.
While many faculty attempt to control costs by supporting used textbooks, rental programs, or placing copies on reserve, there is another option: Open Educational Resources (OER).