The material cost was roughly $45 for each 600 page book.
In 2004, increasing material costs were passed on to end users by the company.
"Over time, if you really want to make this big, then raw material costs are going to have to come down," he said.
All students had to pay was their material costs - for things like uniforms or textbooks.
Increasing material costs may be to blame for this rapid rise in price.
The price difference here is not explainable by reference to the material cost.
- 31% of the total materials cost came from recycled content.
But many developers working on office projects are struggling with rising material costs.
Manufacturers' raw material costs increased by 1.7% on the month, taking the annual rate to 17.5%.
Corporations often use them to protect against rises in interest rates or raw material costs.