In 2015, the Student Public Interest Groups (Student PIRGs) published a report titled Open Textbooks: The Billion Dollar Solution, which reviewed data collected from five different college pilot programs which encouraged faculty to replace their traditional instructional materials with openly licensed educational resources (OER). This report also analyzed the potential of open textbooks and open licensing as an alternative to traditional copyrighted textbooks.
By applying average student savings to the general segments of the college student population, the report predicted that open textbooks can potentially save more than a billion dollars each year.
The report concluded that investing in open textbooks has an exponential return on investment in students savings and that higher education institutions should take more of a role in solving the high cost textbook problem by providing training and resources faculty need to convert their instructional materials to open educational resources.
Source: Student PIRGs
For More Information
Make Textbooks Affordable http://studentpirgs.org/campaigns/sp/make-textbooks-affordable
Open Textbook: The Billion Dollar Solution http://www.studentpirgs.org/sites/student/files/reports/The%20Billion%20Dollar%20Solution.pdf