Thanks to Follett, students can rent their books and save fifty percent or more while the store stays profitable. According to Follett, Rent-A-Text will reach approximately five million colleges. The company expects to save students more than one hundred thirty million dollars in the 2010-2011 academic year.
By reducing prices, textbook rental allows the bookstore to help reduce education costs. “Even us as a company, we understand that the costs of textbooks is a huge burden for students, and so that rental program is really our solution for that. To see a student come in,” Riggins enthusiastically said, “with a hundred-dollar book at the register and then have it be available for rent and it’s fifty-dollars. It’s huge. So times three or four books it really kind of widdles down that price burden for students.”
Such dramatic change in book buying habits leaves store manager Mike Riggins optimistic. “With the rentals,” he said lightheartedly, “we’ve actually moved about thirty-five hundred units so actually books out of the store, where we wouldn’t have seen those last year—I don’t think, because of the economy and all the other competition.”
Kyle Goodchild, a junior, also agrees. He thinks that “it’s a pretty good way for students to save money as well as…learn the same time without having the extra cost…” Goodchild’s broad grin beamed after renting his two textbooks. Goodchild saved about one hundred and twenty five dollars.
The bookstore is certainly revolutionizing the university’s bookstore this fall. Students can post their comments on STN’s Facebook page.