Textbook Rental Programs at College Stores Continue to Grow
Jan 31, 2012, 10:35 ET
Save college students $200 million each semester
OBERLIN, Ohio, Jan. 31, 2012 /PRNewswire-USNewswire/ -- College students seeking to save money on textbooks need look no further than their local college store. More than 2,500 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 two years has skyrocketed from about 300 in the fall of 2009 to 2,200 in fall of 2010, to 2,560 in fall of 2011," 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."
SUBSTANTIAL STUDENT SAVINGS
The savings can be significant, given that students estimate they spend about $655 annually on required course materials. NACS estimates that textbook rentals from college stores saved students $200 million in the fall 2011 term alone.
Schmidt noted that NACS' 3,100 college store 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 exhibits our members' commitment to providing affordable course materials for students," he said. "Few industries can demonstrate such quick response to customer demand."
THE RIGHT FORMAT AT THE RIGHT PRICE
"With 75% 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 what 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 3,100 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
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