Student Savings from College Store Textbook Rental Grows
College store textbook rental programs saved students more than $450 million during 2012 school year
By: Charles Schmidt
(OBERLIN, OHIO) College students seeking to save money on textbooks need look no further than their local college store. Nearly all college stores now offer textbook rental programs of some kind, resulting in substantial cash savings for millions of students, according to The National Association of College Stores (NACS).
“The number of college stores offering textbook rental over the past four years has skyrocketed from only about 300 in the fall of 2009. Now almost all of our nearly 3,000 college store members offer this money-saving alternative,” said Charles Schmidt, NACS director of public relations. “Such print-version rental programs can save a student between 45%-66% off the price of a new print textbook, and is often less expensive than digital formats.”
Significant student savings
The savings can be substantial, given that students estimate they spend about $662 annually on required course materials. NACS estimates that textbook rentals from college stores saved students approximately $450 million during the 2012-13 school year.
Schmidt noted that NACS’ members are just as concerned as everyone else about college affordability.
“In addition to offering the rental option, all college stores offer less expensive used books, while many innovate through price-matching, free shipping, guaranteed buyback, custom-published products, and textbook sales. Stores also are investing in price comparison software, demonstrating how price-competitive they are with outside, for-profit companies,” he said.
The right format at the right price
“With 77% of students continuing to prefer the print version of a textbook over the digital, college stores are providing the students they serve the product they want at a price they can afford,” Schmidt said. “Our members are committed to ensuring students have the academic tools they need to succeed no matter how accessed or in what format.”
Headquartered in Oberlin, Ohio, the National Association of College Stores (NACS) is the professional trade association of the college store industry. NACS represents nearly 3,000 collegiate retailers. NACS member stores serve North America’s college students while supporting the academic missions of higher education institutions everywhere. Additional information on NACS can be found online at www.nacs.org.
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