Tuesday, February 21, 2012

How do colleges benefit from textbook rental programs?

I have to do a persuasive speech in college and I am doing it on how my school should provide a textbook rental program. One of the factors I am discussing is how it saves the college money and my teacher wants some financial facts with charts or graphs but I am having a hard time finding this. Anyone know where I can find some good information for my speech?How do colleges benefit from textbook rental programs?
The answer to this question is not as simple as it seems. There are many different ways for a school to run a textbook rental program, and there are differing cost and profit implications for each different model. Some schools run them on their own while others partner with book companies called wholesalers to help manage the program. Others still partner with online companies like BookRenter or Chegg to offer a program to their students. In general, the store would make more money if they could sell you a new or used textbook, but to remain competitive, schools have to keep up with options that are available to any student online.



The overall impact of textbook rental is to reduce the cost paid by the student to access a textbook. If you think about the typical cycle of buying a book and then selling it back at the end of the semester - it's really just a rental where the student bears the risk. I work directly with schools to set up textbook rental programs, and the overwhelming majority of schools are not asking how they can make more money, they are asking how they can better serve their students.How do colleges benefit from textbook rental programs?
It doesn't really save the college money, it might make them a little more. They can make more money by renting a book several times than they can by selling it once. But textbooks are generally always a profit-maker for colleges.

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