This is a bad article. Renting textbooks is not unique. As others have said, schools have typically sold books and bought them back at the end of the semester. (Of course when they come out with a new version you were stuck with it)
Textbook companies are pushing electronic books hard. They say that they have studies showing students learn more because it is interactive and such. I am skeptical though and think it is mostly so they can sell a license to the material and kill off used book sales. Sure it costs less but there is no way to make any money off of selling it and some companies only allow you to access it for a year or so and so even if you wanted to access it later in life you can't (I think there are some that offer lifetime access but that is really lifetime of the software platform).
I don't know if this passage was meant to fool me but it fooled me: By one estimate, college students nationwide spent $701 each year on textbooks in 2008. By 2017 that cost dropped by more than $100. - Which I initially read as "to $100", which, unlike a $100 drop, is impressive.
$100 drop is a speed bump and if they can only manage such a speed bump, the whole thing is like a press release.
I think it's impressive that _any_ college expense has come down at all.
Also you're not taking into account the fact that inflation alone should have increased costs by roughly $100 since 2008. But instead there's a net decrease.
Looks to me like they are not calculating the net cost. Since they don't mention selling back and all and then attribute some of the fall in price to rentals.
Most people would come out farther ahead buying on Amazon and then selling back after the semester. Rather than rent.
If their calculations do not include selling the book back, my guess is students are actually spending less up front but spending more overall.
Textbook companies are pushing electronic books hard. They say that they have studies showing students learn more because it is interactive and such. I am skeptical though and think it is mostly so they can sell a license to the material and kill off used book sales. Sure it costs less but there is no way to make any money off of selling it and some companies only allow you to access it for a year or so and so even if you wanted to access it later in life you can't (I think there are some that offer lifetime access but that is really lifetime of the software platform).
The real cost savings is Open Educational Resources (OER). Basically Creative Commons books that are free for students and educators with no drm. https://campustechnology.com/articles/2014/07/02/16-oer-site...