Each year, Arthur Lakes Library negotiates with publishers and vendors to provide access to the databases and journals that advance Colorado School of Mines world-changing research and transformative instruction. Unfortunately, the cost of these resources rises by 4-8% annually, far outpacing the rate of inflation and the realistic constraints of university budgets. When we negotiate with publishers, we seek contracts that are affordable, sustainable, and transparent, but sometimes publishers insist on significant increases that far exceed available funding. Mines is not alone in challenging these unsustainable increases- academic libraries of all sizes across the nation face the same reality.
It is a goal of the Arthur Lakes Library to provide the necessary resources to students, faculty, and staff to support education and research. While not all resources may be available due to cost and/or licensing we'll try to get the resources our community needs.
|Institution Name||FTE||Total||Per Student|
|California Institute of Technology||2,233||$3,175,554||$1,422|
|Massachusetts Institute of Technology||11,276||$11,407,017||$1,012|
|New Mexico Institute of Mining and Technology||1,655||$1,293,500||$782|
|Michigan Technological University||6,641||$3,129,787||$471|
|Worcester Polytechnic Institute||6,127||$2,672,360||$436|
|Georgia Institute of Technology-Main Campus||27,894||$8,992,424||$322|
|Rensselaer Polytechnic Institute||7,989||$2,463,255||$308|
|Colorado School of Mines||6,085||$1,778,755||$292|
|Missouri University of Science and Technology||7,357||$1,582,849||$215|
|South Dakota School of Mines and Technology||2,313||$455,083||$197|
|New Jersey Institute of Technology||9,041||$1,595,778||$177|
Answer: Yes. Library materials inflation is a broadly recognized challenge in academia. See full chart.
The following chart from the Association of Research Libraries (ARL) provides visual evidence of the annual price pressures for both monographs (books) and serials (journals) between 1998-2018