American Opportunity Education Tax Credit: Textbooks Included

For all the laments about the rising costs of college, there are plenty of people who pay low or no tuition. For some, perhaps most, this is need-based. For others, including many members of the middle class or beyond, this is merit based.

Why am I mentioning this? Because I have mentioned the American Opportunity Tax Credit to many people and not one had heard of it. There have long been tax credits for tuition and fees. And for most, tuition and fees ate up--and continue to eat up--the credit, In 2009-10 (and, I think extended in the recent lame duck congressional session), TEXTBOOKS are included in the $2500/year potential credit. TEXTBOOKS were never included before.

Because both of my children made use of their National Merit Scholarships, they pay no tuition or fees. THANK YOU CHILDREN FOR YOUR CHOICES. Like many, I have been appalled by textbook prices. Even with all my ingenuity and frugal bloodhound skills, I have seldom managed to save very much.

As of 2009, I can relax. The French text is $120 plus a $90 computer pad fee...well, tant pis.

But many don't know about this. My daughter wanted to lend her books to her pal last semester. The books were keepers and I didn't want them to go astray. Miss Em's friend had very high SATs and received free tuition at the same college. I told Miss Em to tell the friend to tell her parents that they would be eligible for the credit. Via the grapevine--from a doctor--a thank you.

Miss Em's hometown friend who received both need- and merit-based aid was lamenting the fact that she couldn't accompany us to Goodwill for a fun shop because she had to save for her textbooks. I told her to tell her mother about the credit. I hope she does.

Many students in Louisiana (TOPs program) and Georgia (HOPE credit) pay no tuition. Other states give free or reduced tuition to students--like my daughter's friend above--who have high SATs or ACTs (over 1400 seems to be required; over 1500 will be better. This is just for the first two parts. For the ACT, I think over 30 is the requirement. It may be higher.)

Even students at private schools may receive tuition scholarships. Textbooks, often not covered, are estimated to cost around $500/semester. I think this is a low estimate, since textbooks prices--like prescription drugs--are both required and prescribed by people often clueless about the cost to the users. Much has been written about the constant, unnecessary revisions in textbooks, which render used books unusable.

OK. Enough of that rant. For those who pay no or low tuition--and this perhaps applies to community college students in some areas--the American Opportunity credit can BE USED FOR TEXTBOOKS.

I hope Miss Em's pal's mom files an amended return for 2009 and 2010.

If you know anyone in a relevant situation, please pass on this info!

P.S. I am NOT A TAX EXPERT. LOOK INTO THIS YOURSELF. PLEASE.

College Textbook Prices and Big Pharma: International Editions

A while back, I was discussing the scary overpriced textbook trade and compared the industry to Big Pharma. An academic economist made the same point in the New York Times. I was so happy; I've never even taken Econ101.

Here is the comparison made yet again by an on-line seller of textbooks. Just as prescription drugs are cheaper out of the USA, so too college textbooks. You realize, of course, that these are the same books. Oh--the difference is that the International ones are marked International. Based on the comments, I would say that the textbook publishers tried to keep the international books from being sold in the US, just as Big Pharma lobbies to keep international prescription drugs out of the consumer's hands.

# Q: What's an International Edition Textbook?
A: An International Edition Textbook is simply the international counterpart to a US Edition. Most international editions have slightly different covers and many have different ISBNs on the outside covers (although some have the same ISBN as the US edition on the inside). These books were originally created to be sold in different regions, such as England. International edition textbooks have the same pagination and contents as the US Edition. All units and problem sets are guaranteed to be the same, or your money back!
# Q: Why are International Edition Textbooks so much cheaper?
A: Just like prescription medicine, textbooks are much cheaper overseas than in the US. TextbooksRus.com gets a hold of these books and passes the savings on to you!
# Q: Wait a minute, is it legal to buy International Edition Textbooks?
A: Yes! Textbook publishers would love to have people think otherwise, but courts have time and again asserted your right to purchase international editions. Still unsure? The United States Supreme Court recently ruled on this issue. You can find a New York Times article about their decision here
# Q: Why do you sell International Edition Textbooks?
A: Disgruntlement over textbook costs has been growing in the United States as prices have risen. As veterans of the textbook industry, we've seen a massive increase in demand for both used textbooks and especially international edition textbooks by students who are tired of paying $95.00 for an economics book or $140.00 for a chemistry book. They're happier buying the same book for $50.00 in an international edition.
# Q: Do you buyback International Edition Textbooks?
Yes! Just visit our buyback page at the end of your quarter or semester, type in the ISBN of your book and select the international edition copy. We buyback all types of books everyday, and we even pay for your shipping!
# Q: What about CD-ROM's and online access codes? Do International Editions come with these?
A: In most cases, yes. In rare cases, the CD may not be included. If the CD is not included with the book, this will be made clear on the product detail page. If you are sure you're going to need the CD-ROM to complete your class and want to make sure the book includes it, drop us an email at help@textbooksrus.com to make sure. Most professors do not require these materials, since many used books do not come with them.
# Q: This all sounds great, but I'm still not sure because I've never bought an International Edition Textbook before.
No problem, we've prepared some side by side comparisons of the US editions and International Editions. Check them out below!


Note that Amnazon and Half.com do not allow international editions to be sold on the sites. Based on the above info, I would guess that the online computer codes may be an issue if your scholar wants to buy an international edition.

I myself have no experience with these. Frugal Son only had to buy one textbook during his year in France. It cost around $14.00.

Textbook Computer Codes

I mentioned the other day that my daughter had to buy a $100.00 computer code for her French class to go with the $75.00 used book. The new book-natch-was $175.00. I didn't mention that her math teacher had the class purchase codes, but told them not to bother with the text. the text PLUS code was only a little more than the code alone.

Funny About Money plaintively inquired:
Computer access code!? Heaven help us.

That is inexcusable. Is there any reason classmates can't be put in groups or group themselves informally so they can all access the computer using one member's code? What if each kid in the group paid the person who sprung for the new textbook $10 or so? That would bring down her cost and let the students who can't afford to spring for $175 for a French text(!!!!!!!) save their money.


She probably wasn't plaintive, actually. It's a good question.

Not being in the textbook biz, this is what I think. Anyone who knows better/different, do not hesitate to set me right on this.

I think this is a way the publishers keep students from buying used or sharing. The codes provide access to all sorts of material for students--in that sense, offer extra value. BUT BUT BUT the codes have to be-I think-unique, because they are linked to quizzes.

The quizzes are--again, I think--composed, graded, and recorded BY THE TEXTBOOK PUBLISHER. This is a way that publishers market their books--"Look TEACHER, we can save you the dreary work of composing and grading quizzes."

Anyone care to correct me on this? Really, I'm just surmising. What do you think of the practice?

If I'm right, what is for sale is a unique code. The text itself is just gravy.

College Textbook Costs: Yet Once More

Yet once more* the college textbook cost theme. Funny About Money wrote about it; I have taken on the issue several times. Now the New York Times has taken on the issue, with opinions from many experts.

Why are textbooks so expensive? Because they can be. Because the price is lost amid other expenses. Because people might be paying with borrowed money, which, sadly, may be seen as "funny money." (It's not.) One of the experts in the New York Times piece compared the textbook industry to BIG PHARMA: the people who "prescribe" (doctors, teachers) have no idea what the item (drug, book) costs. The purchaser (patient, student) has to suck it up. Well, guess what! I made this analogy on this very blog ages ago. And I'm not an emeritus professor of economics. I feel so, well, thrilled.

I may have an unusual perspective: I am a teacher, but my school has a rental system: students pay only $18.00 per course, for up to two textbooks. So I am NOT GUILTY! I am also a parent of two college students, however, and their schools do not participate in the rental system.

I have discovered that trying to save money on textbooks is like aiming for a moving target. All the strategies work--sometimes, sort of, but don't count on it.

--Buy it and sell it when you're done: Good idea, but textbook publishers try to circumvent the used book market. I bought a 2008 Art History text at Goodwill a few days ago as a test case. At a quarter, it was not a big investment. This book sold for $115.00 new. It is now in a new edition. New editions also often come out in October or February, thereby making your recently purchased text worthless.


--Buy on Amazon: Textbook sellers are not dumb. Unless the book is getting near its new edition date, it is likely to be pretty expensive.


--Rent from Chegg: If you look at their rental prices, you will see that this is not a cheap route.

And so on. I have spent HOURS trying to get books cheaper, with little success. Here is one example: My daughter needed a French book last year. It was $175.00. I found a used copy at Powells for $75.00. Did I save $100.00? Guess again.

On the first day of class, the teacher announced that students needed a current computer access code for the text. These came with the new books. For those who bought used...the code cost $100.00!

I have loads of similar stories, which I will bore you with only on request. It is a dreary tale. Just don't believe all that cheery advice on "buying used" and "renting from Chegg." If my experience is any indication, you won't save much money.

So...what am I doing this year? Well, the tax code changed in 2009. The first $2000.00 in educational expenses gets a tax credit. For most people, this is eaten up by tuition and fees. However, if you are on tuition scholarship (Hope in Georgia, TOPS in Louisiana) or at a junior college with low costs, you can now--as of 2009--get the tax credit for books. Thank you Congress! Feel my love.

*Yet once more: The opening words of Lycidas, a pastoral elegy by John Milton, which has an academic theme.

How to Save Money on Textbooks: Not So Easy

Textbook prices. This is a scary subject. I don't really know too much about the business end, but I think textbooks are extremely lucrative for publishers. They can charge what they want because you gotta have them. I got a glimpse of the business side recently when I heard that one of the publisher's reps, a very corporate type with power suits who had appeared on Jeopardy, was reassigned, after losing our order.

As my devoted readers know, my frugality extends beyond my immediate family, to the world at large. So I was always aware of the cost of the books I was ordering. But most teachers have no idea. At my current institution, frugality is built in. We have a textbook rental system, whereby students pay only $18.00 per course for up to two books! Given that language, math, and science books range now from $150.00-$200.00, with $50.00 or more for the flimsy workbooks that accompany them, you can see that this represents a huge savings. In fact, quite a few students say that the rental system--which the other state schools did not adopt--is what attracted them to the school in the first place.

In fact, the textbook industry reminds me of the drug industry; well-dressed reps who show up at your place of employ, sometimes with pizza (better lunches at doctor's offices). Customers who HAVE TO HAVE THE PRODUCT. And doctors/teachers who have no idea of the cost of what they just ordered.

I don't think we're allowed to get pizza anymore, incidentally. I have heard reports on NPR outlining how professors are offered trips for research or author credits and so forth. That's not the case at my school as far as I know.

My children are at colleges where they have to buy textbooks. Tomorrow: a report on my successes and failures in getting them textbooks at reasonable (i.e. "reasonable") prices.