Wondering why the drop-out rate from college is so high? One reason could be that a stunning 65% of students avoided buying textbooks due to the cost. As NBCNews reports,textbook prices have risen over three times the rate of inflation from January 1977 to June 2015, a 1,041 percent increase – dwarfing the government’s official CPI data. Just as government-subsidized healthcare has ‘enabled’ dramatic rises in the costs of drugs so government-subsidized education has sparked hyperinflation-esque pricing in college textbooks
As NBCNews reports, students hitting the college bookstore this fall will get a stark lesson in economics before they’ve cracked open their first chapter. Textbook prices are soaring. Some experts say it’s because they’re sold like drugs.