Students at U.S. colleges and universities are concerned about the high cost of textbooks. Expansion of library course reserves has been suggested as one solution to this problem. The authors surveyed libraries at public universities to explore the status and management of physical course reserves and the role they play vis-a-vis textbook affordability. Both size and circulation of physical course reserve collections are declining. Despite a large growth in the use of electronic reserves, physical reserves play a significant role in providing textbooks for recommended reading lists. Physical course reserves represent a safety valve for students looking for ways to pay for college in an environment of ever-increasing textbook costs. (Contains 5 figures.)