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For Immediate Release DirectTextbook.com Introduces Textbook Buyback Price ComparisonSelling back books online means more money, less waiting in line for savvy students March 2006- Portland, Ore. Textbooks are getting more and more expensive. A recent report by the United States Government Accountability Office identified that textbook costs account for 26% of the cost of a 4-year public education, and a whopping 72% of the average 2-year public education. "A student can spend $4,000 for books over a four-year period to get a degree," said Dr. Petur Jonsson, chairman of the Fayettville State University Department of Managerial Economics and Finance. He is also heading FSU's new task force on textbooks. "Even some paperback books cost more than $100 a piece." Most students who purchase textbooks at the local campus bookstore inherently expect the option of selling the book back to the bookstore at the end of the term. This lessens the cost burden for the student and creates a large inventory of lower priced used textbooks for the campus bookstore to stock next season. However, many individuals are surprised to find out that their book is either not being bought back by the bookstore, or the buyback price is as little as 5% of the original cost. "The goal of our new buyback price comparison is to allow students to get the very best price for their used book. They can compare multiple online buyback offers to their campus bookstore price, and decide which one is best for them. Many online buyback services such as booksintocash.com even offer free insured shipping labels that you can print directly from their site. This means even more cash and free time for struggling students," says Morgan MacArthur of Direct Textbooks. With the speed and convenience of Internet buying, people are finding the lines and prices at the campus bookstores harder and harder to swallow. According to a recent FAQ publication by the National Association of Campus Stores (NACS), about 16% of students bought their textbooks online in 2004. So why is there so much price fluctuation and discrepancy in used textbooks? According to NACS's College Store Industry Financial Report campus bookstores average a 22.5% gross margin on new books and a much greater 34.9% gross margin on used books. The bottom line is that there is more profit to be made in used books. Some online book buyers are willing to cut into that profit and offer the students more money in order to acquire a book that can be easily resold. These new companies also create competition for the campus bookstore on all levels, and result in better service, prices, and options for the average student consumer no matter where they buy. A recent NACS survey also revealed some college bookstores are even going so far as to offer a price matching program for students that shop online. "We just want students to be treated like real customers with open options," says MacArthur. "They are spending a large sum of money and it is only natural that they would want to find the best deal." Direct Textbooks Inc. is celebrating its 5th year providing students across the nation the ability to find the very lowest price on textbooks with their textbook price comparison search at directtextbook.com. Founded in 2001, Direct Textbooks has previously focused primarily on comparing textbook prices. In 2005 a local library search was added, allowing students to also search library inventory for required reading, and in 2006 a buyback price comparison was added, to provide students with even greater control in the textbook market.
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