College Stores Earn Gold Medal for Textbook Rentals
Saved college students more than $300 million during 2011-12 school year
OBERLIN, Ohio, Aug. 8, 2012 /PRNewswire-USNewswire/ -- 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 The National Association of College Stores (NACS).
"The number of college stores offering textbook rental over the past three years has skyrocketed from only about 300 in the fall of 2009. This year we anticipate that nearly all of our more than 3,000 college store members will 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 $655 annually on required course materials. NACS estimates that textbook rentals from college stores saved students approximately $300 million during the 2011-12 school year.
Schmidt noted that NACS' members are just as concerned as everyone else about college affordability. "Considering that such programs are riskier and costlier for stores to implement, this growth is impressive and demonstrates college stores' commitment to providing affordable course materials for students," he said.
THE RIGHT FORMAT AT THE RIGHT PRICE
"With 74% of students still preferring the print version of a textbook over the digital, you have a situation where 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 more than 3,000 collegiate retailers. NACS member stores serve 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.
SOURCE National Association of College Stores