A Report on the Feasibility of Textbook Rental - IBHE

Student fees are collected:• as part of tuition (61.9 percent);• when books are rented (33.3 percent); or• through other means (4.8 percent).Rental fees are based on:• per credit hour (33.3 percent);• other (23.8 percent);• per course (23.8 percent); or• one-time fee per term (19.0 percent).Rental Program BenefitsThe potential benefits of textbook rental programs are significant. Among the benefitsmentioned by the community colleges and public universities that responded to the IBHE rentalfeasibility survey are the following:Cost Savings. Textbook rental programs offer potential cost savings for students andparents. Existing textbook rental programs at Illinois public universities and community collegescost students less than half of what they would be expected to pay for textbooks at non-rentalinstitutions. Under rental programs, students can easily budget for textbooks, and mandatoryrental fees can be covered by MAP awards to low-income students. In contrast, while selling atextbook back at the end of the semester lowers the net cost to the student, the full price of thetextbook must be paid at the beginning of the semester, and a favorable sell back is notguaranteed.Acquisition of Required Textbooks. A 2006 survey by the Student Monitor of 1,200full-time undergraduates at four-year institutions found that 26 percent of students surveyed didnot purchase all required textbooks (Student Monitor 2006). While various reasons were givenby the students for not acquiring all required textbooks, many students reported that they couldnot afford either new or used textbooks. In contrast to purchasing books or other rental modelssuch as book deposits collected on a per-book basis, rental programs funded through mandatorystudent fees guarantee that all students have access to all required textbooks.Recruitment and Retention. Rental programs can be effective recruitment and retentiontools since the number of public higher education institutions with rental programs is minimal. Atextbook rental program could be a deciding factor for students and parents with financialconstraints. Eastern Illinois University markets its textbook rental program, which currently costs$7.95 per credit hour, or about $240 annually for a student enrolling in 30 credit hours per year,as a scholarship for each student.Shipping and Handling. Shipping and handling costs may be reduced under a textbookrental program. Institutions without rental programs estimate the quantity of textbooks needed.When an estimate is too low, more textbooks must be ordered and, conversely, when an estimateis too high, textbooks must be returned, thus having an impact on shipping and handling costs.Environmentally Responsible. Textbook rental programs are environmentallyresponsible. Utilizing a textbook over the course of an adoption period, generally three to five-25-