This time of year, many students are preparing to return to school and are figuring out their budget for the upcoming academic year. In addition to tuition expenses, many students face additional costs such as living expenses, lab fees and textbooks.
For the 2014-2015 academic year, The College Board, a nonprofit organization that helps prepare students for a successful transition from high school to college, estimates the average cost of textbooks and supplies was $1,146 per student at public colleges and $1,244 per student at private colleges.
Luckily, there are some ways to save. Here are 7 simple ways you can save money on textbooks.
1. Buy used
One of the best ways students can save money is buying used textbooks. This can allow you to get what you need at a fraction of the cost. Students can look for 'Used' stickers on books at their campus bookstore to get extra savings -- and don't forget to ask whether using your student I.D. will help you get additional discounts.
You can also look for used books at your local bookstore, as well as online on websites like Chegg and BookRenter.
2. Rent your textbooks
If you only need a book for a short time, or you know you aren't going to keep the book after the class ends, consider renting your textbook.
"Renting textbooks is such a great deal because you can typically save 70 to 90 percent compared to buying the book new, and 50 percent or more compared to buying the book used," says Robert Farrington, founder of The College Investor.
You can use websites like Textbooks.com, CampusBooks.com, Chegg and BookRenter to rent the books you need, without the commitment of buying and being stuck with a book you may ultimately not want. You'll save some time as well by not having to go through the hassle of re-selling your books once the semester is over.
Farrington adds this final reminder in favor of renting: "Honestly, when was the last time you ever opened a textbook after the course was over?"
3. Use price alerts
In order to get the best deal when buying books online, consider using a service like Online Price Alert, which syncs with Amazon to notify you when a product on Amazon.com is available in your target price range. Simply add the product URL and enter your email. Your alert will be valid for 30 days or until the item becomes available at your target price.
Setting up a price alert can help you save money so that you buy at just the right time for the best deal.
4. Go halfsies
Are you taking a class with one of your BFFs or roommates? If so, consider splitting the cost of a book and sharing the textbook. Using this option requires a bit more logistical planning, but it can work.
When pursuing this option, it's important that you and the person you're sharing with can sync schedules easily so that sharing doesn't become a burden. One perk: You may have a built-in study buddy.
5. Comparison shop
Sites such as My Next Textbook allow you to enter your textbook information online and comparison shop new and used books - saving you both time and money.
6. Buy e-books
Purchasing a digital version of your textbook not only can save you money, but is also more environmentally friendly and easier to carry around. You can check out sites such as Barnes & Noble to scope out digital textbooks. Digital textbooks can cost around 50 percent less than the price of a new paper textbook and, once you're done, you don't have to worry about reselling or storage.
7. Check out the library
For some classes, you may be required to read novels or other popular books. In this case, try checking out the library first.
Libraries are a wonderful asset that can help you save money because everything is free. Just be sure to return your books on time, or else you'll end up paying the price in late fees. Set up a calendar reminder for the due date so you don't forget.
Between tuition, living expenses, food and more, college can be a costly endeavor. But one of the best and easiest ways college students can save money is on textbooks. Use these tips to slash your budget and keep the extra money in your pocket.
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