About Us | News
Textbook Rental News
Jan 15, 2010
For Immediate Release
Contact: Elio DiStaola
Follett Higher Education Group to Expand Textbook Rental Program to Hundreds of Campuses this Fall Early-to-Market Pilot Saves Students at Seven Schools $2M; Twenty More Join Pilot this Term
OAK BROOK, IL, January 15, 2010: Follett Higher Education Group (FHEG), the leading provider of bookstore services, plans to expand its successful textbook rental program to its 850 college and university campus bookstores. Follett's textbook rental program is expected to reach more than 400 campuses for the 2010 academic year, and gives students the benefit of more than 50 percent savings on new textbooks as well as convenience and flexibility in the rental process.
Follett, which has the largest inventory of textbooks in the industry, used its Fall 2009 pilot to test all aspects of its college textbook rental program, including student-specific research to gain their feedback. In just one term, Follett's program saved students nearly $2 million on their course materials at seven schools. There are now 27 schools participating in Follett's pilot rental program. The expansion will mark the largest announced dedication of resources - more than $120 million - to rental in the bookstore industry and further Follett's mission of driving down costs in higher education.
"Our rental program is efficient and value-driven and will benefit students while providing them with yet another affordable choice from Follett bookstores," said Thomas A. Christopher, President of Follett Higher Education Group. "We have been at the forefront of cost-savings programs for more than a century, and this is just one of many options that encourage collaboration of stakeholders on campus, including administration, faculty and the bookstore to drive down the cost of course materials."
Follett's textbook rental program will:
· Be available in store and online, including e-commerce with in-store pick-up
· Offer multiple forms of payment, including financial aid and campus cards for a no-hassle purchase
· Have the option to buy the textbook during the rental term if a student decides to keep the book
· Allow for the normal wear and tear associated with coursework, including freedom to highlight and take notes
"Feedback from more than 1,400 students in our survey was overwhelmingly positive and helpful," said Christopher, "with more than 90 percent expressing satisfaction with the program. We will continue to refine our offering with student, administrator and faculty input."
A complete list of participating campuses will be available in the spring.
For more information about Follett's textbook rental program please join more than 24,000 fans and visit www.facebook.com/rent-a-text.
Follett's rental program is one more example of its commitment to working directly with its school partners and their faculty in a way that creates greater flexibility for students in paying for textbooks and ultimately in the formats they may use.
Follett Higher Education Group
Follett Higher Education Group of Oak Brook, Illinois, is the leading provider of bookstore services and the foremost supplier of used books in North America. Follett services five million students and over 400,000 faculty members through more than 850 stores. Follett also services more than 1,600 independent campus stores with its wholesale services, and has the most visited ecommerce collegiate website, efollett.com, that provides services and products through a network of more than 900 campus stores.
Follett Corporation is a $2.7 billion, privately-held company that provides products, services and solutions to the educational marketplace. Follett Corporation was founded in 1873, and today is headquartered in River Grove, Illinois.
# # #