College students save bucks by renting textbooks

Facing cash-strapped students and fierce competition from online textbook sellers and renters, brick-and-mortar booksellers are getting creative.

 "I just spent $265," sighed Kristie Arnold, a freshman elementary education major at Volunteer State Community College, holding up a bag with four textbooks inside. 

It could have been worse. Arnold was one of the first students at one of the first colleges in Tennessee to use a pilot program that lets students rent their textbooks instead of buying them.

Volunteer State was one of a dozen campuses nationwide tapped to participate in the pilot program by the Follett Higher Education Group, which operates some 850 college bookstores. Starting this semester, students in 17 classes have the option of renting a textbook — for 55 percent off the sticker price — and returning it after final exams.

Facing cash-strapped students and fierce competition from online textbook sellers and renters, brick-and-mortar booksellers like Follett are getting creative.

If the rental program catches on, Follett could expand textbook rentals to its other campuses. The program has been a huge hit at Vol State.

"That's a good deal," said Jessica Torrento, as the cashier rang up a stack of books that was $50 cheaper, thanks to the rental option on two of them. "You're going to sell 'em back eventually, so you might as well save now."

Leilah Linfoot showed off the brand-new communications textbook she was renting for $38 for the next few months.

"I'd rather pay half the cost up front than wait until the end of the (semester) and hope the bookstore buys it back," she said.

Tuition also has risen

For students already struggling to pay the ever-rising tuition at Tennessee colleges, the added expense of textbooks just adds to the pain.

In 2008, the average textbook cost $57, and the average undergraduate spent $750 at the campus bookstore, according to the National Association of College Stores.

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Which might explain why so many students have started bypassing the bookstores entirely. Online textbook sales have exploded — from mainstream booksellers like Amazon.com to textbook specialists like the East Nashville-based BookFool.com.

"If we can't give you the best price, we'll show you who can," promised BookFool strategist Luke Duncan.

Since 2007, the company has been collecting and reselling textbooks across the country, often for a fraction of the cost students would pay at the campus bookstore, or buying them for what they hope is a better deal than the brick-and-mortar stores can manage.

Follett spokesman Elio Distaola acknowledged the pressure the campus bookstores are feeling from online booksellers — and online textbook renters like Chegg.com.

"We know it's out there," he said. "But growing competition keeps us sharp in the services we provide."

Follett's rules allow students to highlight the textbooks, scribble notes in the margins, dog-ear the pages and inflict all of the usual damage students inflict on their course materials.

If students decide to keep a book, they can pay the rest of the cost at the end of the semester — but if they fail to return the textbook as promised, they will be charged the full price, plus a penalty.

Renting a textbook will save about 55 percent off the cost of the book.

Libraries have stashes

If students buy a textbook and sell it back at the end of the semester, they would recoup as much as 50 percent of the book cost, Distaola said — providing, of course, that he bookstore is in the market for that particular title.

But bookstores aren't the only places on campus where students can catch a break on textbooks.

At Middle Tennessee State University, the library keeps a stash of textbooks on hand for students to use for a few hours at a time — perfect for its commuter students, who may have left a book at home.

The books also help students who might not have enough money at the start of the semester to pay for all of their textbooks at once, said Ann Funkhouser, assistant manager for research at MTSU's James E. Walker Library.

"The cost of tuition is going up, and the cost of textbooks keeps rising," said Funkhouser, noting that professors also scan book chapters and articles into the library's mainframe database, so students can read online without buying an entire book. "A lot of students start the semester without the money to buy books."

Which might explain why so many students have started bypassing the bookstores entirely. Online textbook sales have exploded — from mainstream booksellers like Amazon.com to textbook specialists like the East Nashville-based BookFool.com.

"If we can't give you the best price, we'll show you who can," promised BookFool strategist Luke Duncan.

Since 2007, the company has been collecting and reselling textbooks across the country, often for a fraction of the cost students would pay at the campus bookstore, or buying them for what they hope is a better deal than the brick-and-mortar stores can manage.

Follett spokesman Elio Distaola acknowledged the pressure the campus bookstores are feeling from online booksellers — and online textbook renters like Chegg.com.

"We know it's out there," he said. "But growing competition keeps us sharp in the services we provide."

Follett's rules allow students to highlight the textbooks, scribble notes in the margins, dog-ear the pages and inflict all of the usual damage students inflict on their course materials.

If students decide to keep a book, they can pay the rest of the cost at the end of the semester — but if they fail to return the textbook as promised, they will be charged the full price, plus a penalty.

Renting a textbook will save about 55 percent off the cost of the book.

Libraries have stashes

If students buy a textbook and sell it back at the end of the semester, they would recoup as much as 50 percent of the book cost, Distaola said — providing, of course, that he bookstore is in the market for that particular title.

But bookstores aren't the only places on campus where students can catch a break on textbooks.

At Middle Tennessee State University, the library keeps a stash of textbooks on hand for students to use for a few hours at a time — perfect for its commuter students, who may have left a book at home.

The books also help students who might not have enough money at the start of the semester to pay for all of their textbooks at once, said Ann Funkhouser, assistant manager for research at MTSU's James E. Walker Library.

"The cost of tuition is going up, and the cost of textbooks keeps rising," said Funkhouser, noting that professors also scan book chapters and articles into the library's mainframe database, so students can read online without buying an entire book. "A lot of students start the semester without the money to buy books."