Forget used textbooks — now you can rent them
August 18, 2009 by Geneva ReidPosted in: Academics, In this week's e-newsletter, Latest News & Views
Students looking to save money on textbooks now have another option: Rent ’em.
Cengage Learning, a provider of educational materials, recently announced it will begin renting textbooks this fall.
The price? Up to 70% less than the suggested retail price.
The rental books will be available this fall – and not a semester too soon. From 1986 to 2004, textbook prices have risen an average of 6% each year – twice the rate of inflation.
Last year, the government decided to take action by passing the Higher Education Opportunity Act, which includes $10 million in grants that’ll go toward pilot programs for rental textbooks. So far, more than 20 colleges have put in grant applications.
This may be a case of win, win … and win. Since students aren’t always able to find the required editions of used textbooks, the benefits of renting less expensive texts are clear. And publishers and authors also benefit by continuing to make money from the same book.
What are your thoughts on rental textbooks? Are they a good idea? Let us know in the comments section below.
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August 19th, 2009 at 9:49 am
When I started my college career, texts were rented to students at the rate of $15 per semester. When the books were returned, you then arranged for your next semester. This is not a new idea!
August 19th, 2009 at 11:05 am
As an instructor at a minority university, every penny counts. My students are sometimes working 2 jobs while they are in school. Anything that I can do to decrease their costs so they can study more and work less, is great. Sometimes, I put a textbook on reserve in the library for students who truly can’t afford the text.
August 19th, 2009 at 12:42 pm
I have been going to college for three years, and hate playing the “find the cheapest textbook game”. I would love to be able to go the bookstore and rent a book. Hope this idea takes off.
August 19th, 2009 at 12:53 pm
Everything old is new, again! Or, biblically, there is nothing new under the sun!
Back in the bad old days –when there wasn’t a new text every 6 months (honestly, with some exceptions, how ‘does’ the 6th edition differ from the 5th?), and the fascination with newness for it’s own sake wasn’t the norm — those of us attending schools in many locations paid a text rental fee on an annual basis. At the end of the year, books were returned. What I find surprising is that it has taken this long for some enterprising individual or institution to propose this solution.
August 19th, 2009 at 3:38 pm
I often wonder why most academic libraries have a policy for not purchasing texbooks. Talking about providing student-centered services, textbooks are the most asked for materials. I appreciate concatenate for requesting the library to put a textbook on reserve. I wish more faculty would do the same to benefit the students.
August 19th, 2009 at 3:47 pm
I worked with two enterprising students two to three years ago who started a textbook rental program out of the trunk of their cars. They got the support of instructors, received a grant, attended small business classes and made it happen.
What took you so long to come up with the idea. I think it will certainly benefit students, particularly those who otherwise would not be able to afford a textbook.
August 20th, 2009 at 8:40 am
Unfortunately, this does little to help the students of instructors who insist on using the publisher’s e-Packs for online course delivery.
August 26th, 2009 at 10:59 am
As with any purchase, look closely at the numbers and the details on the rental deals. Can the book be rented for two semesters or just one? Some renters charge a second fee for the second semester. Is renting really cheaper than buying a used copy and selling it back either to the book store or online at the end of the semester? Websites such as Campusbooks.com can provide the buyback price for comparision. Understand the book renter’s policy on damage or excessive wear. Most book renters have a limited selection focusing on the most widely adopted books. Usualy, only higher price textbooks can be rented. Renting is of little help in courses that require several $10 to $20 paperbacks. These paperbacks can total to nearly as much as one hardcover textbook for a course.
Renting is helpful to some students, some of the time.
August 26th, 2009 at 4:16 pm
Textbook rental is a great way to reduce the cost of education for the students. We keep complaining about the tuition increases in the state universities and forget other opportunities available to us in reducing the cost to the students. We should change our strategy in the way we go about reducing the cost of education rather than short paying the state universities.
My son paid $1500 to purchase his books last year. Do you think there is an opportunity to reduce the cost by renting the books? Yes, at least $1000.
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