In the rapidly evolving college textbook market, one of the nation’s largest textbook publishers, Cengage Learning, announced Thursday that it would start renting books to students this year, at 40 percent to 70 percent of the sale price, reports The New York Times. Students who choose Cengage’s rental option will get immediate access to the first chapter of the book electronically, in e-book format, and will have a choice of shipping options for the printed book. When the rental term–60, 90 or 130 days–is over, students can either return the textbook or buy it.
With the growing competition from online used-book sales, digital texts and new Internet textbook-rental businesses like Chegg and BookRenter, other publishers and college bookstores are also edging toward rentals. Follett Higher Education Group, which manages more than 850 college bookstores, is starting a pilot rental program this fall at about a dozen stores, including those at the State University at Buffalo, Grand Rapids Community College in Michigan, and California State University at Sacramento. The stores will offer about 20 percent of their titles for rent, charging 42.5 percent of the purchase price…
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