Spring Break
Textbook rentals provide potential savings versus new or used books
Hank Drew
Issue date: 9/2/09 Section: News
With student fees rising, textbook rental companies offer the lure of lower prices and nearly guaranteed buyback.
Chris Lasiter, a senior business management major, said he just discovered that he could rent books and found the prospect intriguing.
"I think it's a good idea," Lasiter said. "Anything that takes the power away from the publishers is a good idea - stop them from screwing us over."
He said he thinks textbook publishing companies have created a monopoly.
"They take advantage of us - come out with new editions every three or four months," Lasiter said. "You can never sell them back. I'll be going for my MBA in a few years and this is something I will probably try."
Robyn Lee, manager of Roberts Bookstore, said renting books is a viable option that can be cheaper, but offers some drawbacks.
"You can't mark in them," Lee said.
Chegg, a textbook rental company based in Santa Clara, guarantees that rental books will be free of excessive marking. According to its Web site, renters must limit highlighting, not write in the book and protect against damage.
Lee said Robert's Bookstore does not impose these rules upon their customers.
"You can still write in the books," she said.
She said prospective customers of textbook rental companies should consider all aspects of potential book purchases.
"I think we do rent books," Lee said. "If you buy a book for $75 and get $50 back, it costs $25 to rent that book from us."
As for the guaranteed buyback, Lee said this is one area where the bookstore cannot compete. Roberts needs to know if the course is being offered next semester, which she said depends on teachers' submission of their orders.
"A lot of things are in limbo," she said.
The Department of Education set aside $10,000,00 in grants to help textbook stores explore the idea of textbook rentals in the Higher Education Opportunity Act of 2008.
Charles Schmidt, public relations director for the National Association of College Stores, said 49 different universities applied for this rental program pilot funding. San Jose State University was not among these institutions.
"There are hundreds of our members who offer some sort of rental program," Schmidt said. "Some of these programs go back to the 1860s."
He said textbook rentals help provide access to students with financial difficulties.
"Even with an used book, you have to lay out the purchase price ahead of time," Schmidt said. "You can rent a book for about a third of the price."
Schmidt said the total savings might not be as clear-cut as it seems due to book buyback and fewer numbers of used books available to the student population.
"There's a high startup cost on campus," he said, "and you have to get the faculty to agree on course materials for four to six semesters for it to be profitable."
Brittany Clark, a freshman business administration major, said she had never heard of the textbook rental system, but immediately sees one major drawback.
"I can get tax refunds and sell my books," Clark said. "So, its like I am winning in that situation."
Chris Lasiter, a senior business management major, said he just discovered that he could rent books and found the prospect intriguing.
"I think it's a good idea," Lasiter said. "Anything that takes the power away from the publishers is a good idea - stop them from screwing us over."
He said he thinks textbook publishing companies have created a monopoly.
"They take advantage of us - come out with new editions every three or four months," Lasiter said. "You can never sell them back. I'll be going for my MBA in a few years and this is something I will probably try."
Robyn Lee, manager of Roberts Bookstore, said renting books is a viable option that can be cheaper, but offers some drawbacks.
"You can't mark in them," Lee said.
Chegg, a textbook rental company based in Santa Clara, guarantees that rental books will be free of excessive marking. According to its Web site, renters must limit highlighting, not write in the book and protect against damage.
Lee said Robert's Bookstore does not impose these rules upon their customers.
"You can still write in the books," she said.
She said prospective customers of textbook rental companies should consider all aspects of potential book purchases.
"I think we do rent books," Lee said. "If you buy a book for $75 and get $50 back, it costs $25 to rent that book from us."
As for the guaranteed buyback, Lee said this is one area where the bookstore cannot compete. Roberts needs to know if the course is being offered next semester, which she said depends on teachers' submission of their orders.
"A lot of things are in limbo," she said.
The Department of Education set aside $10,000,00 in grants to help textbook stores explore the idea of textbook rentals in the Higher Education Opportunity Act of 2008.
Charles Schmidt, public relations director for the National Association of College Stores, said 49 different universities applied for this rental program pilot funding. San Jose State University was not among these institutions.
"There are hundreds of our members who offer some sort of rental program," Schmidt said. "Some of these programs go back to the 1860s."
He said textbook rentals help provide access to students with financial difficulties.
"Even with an used book, you have to lay out the purchase price ahead of time," Schmidt said. "You can rent a book for about a third of the price."
Schmidt said the total savings might not be as clear-cut as it seems due to book buyback and fewer numbers of used books available to the student population.
"There's a high startup cost on campus," he said, "and you have to get the faculty to agree on course materials for four to six semesters for it to be profitable."
Brittany Clark, a freshman business administration major, said she had never heard of the textbook rental system, but immediately sees one major drawback.
"I can get tax refunds and sell my books," Clark said. "So, its like I am winning in that situation."
Viewing Comments 1 - 1 of 1
David Jones
posted 9/04/09 @ 10:36 AM PST
First of all, comparing the "guaranteed buyback" of rental services with only the Spartan Bookstore and Robert's is misleading. Many students sell back their books online now. (Continued…)
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