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Publishing Executives Weigh in on Enhancing Student Affordability

Posted by Liz Schulte on 9/10/18 6:30 AM
Topics: textbook affordability, student affordability, publisher rentals

The demand for an education that is affordable, accessible and personalized is driving innovation and creating new opportunities for students to save money on the course materials vital to their collegiate success. Publisher rentals are the latest industry solution that emerged from student-driven conversations about the effect of course materials on their educational experience.

Publishing Executives Weigh in on Enhancing Student AffordabilityStudent affordability is a top priority on college campuses nationwide. Students want access to low-cost course materials and are driving conversations about how costs can be lowered.

In a recent survey conducted by Morning Consult on behalf of Cengage, it was reported that purchasing textbooks causes students more financial stress than housing, food or healthcare. Often students, must make personal sacrifices to help absorb the additional financial burden of textbooks.

1 in 3 don’t travel home

4 in 10 skipped meals

3 in 10 didn’t take a course due to the textbook cost

3 in 10 took fewer classes

2 in 10 changed their major

Lead the course material discussions on your campus

Course materials and students’ affordability concerns are being discussed on college campuses nationwide. Colleges need knowledgeable and friendly bookstore staff to share their industry expertise and educate faculty and students about all the options available to lower course material costs. One cost-saving solution that faculty members might not be aware of is publisher rentals.

Publisher rentals are simply a select set of titles produced by a publisher that have been earmarked for rental. This rental-only program enables publishers to offer these books at a greater discount, providing students with the savings they want and faculty with the latest editions of first-rate textbooks.

"We consider the new agreements on textbook rentals to be a win-win-win for all involved with college course materials.  Students benefit from significantly lower costs and the convenience of acquiring their materials when and how they want,” Brian Starr, vice president head of channel strategy, analytics & strategic initiatives at McGraw-Hill Education, said. “Instructors are able to adopt the most current and effective materials for their specific courses knowing that students can acquire them at lower cost.  Course material retailers can now offer competitive prices by working directly with the publisher saving them the time and money they had spent on sourcing.”

As the demand for an economical college experience grows, so does the need for expert course material guidance on college campuses. Publisher rental programs provide more options to faculty and students which increases the need for knowledgeable customer service from the college store. By making sure faculty stay informed and educating students about the materials available to them before they purchase their materials, your store has a direct impact on academic success.

"Pearson is focused on providing students with high-quality learning materials that support success in the classroom.  We believe strongly that students should be able to obtain these materials at an affordable price and in the format that best suits their personal learning preferences,” Nik Osborne, senior vice president of higher-ed strategy at Pearson Education, said. “Whether students prefer digital rental, print rental or inclusive access, Pearson has been working dutifully to partner with campus stores to ensure students will have access to a number of affordable options."

How it works

When faculty adopt course materials within the publisher rental program, MBS is there to assist your store with providing McGraw-Hill Education and Pearson publisher rental titles. The process is simple.

  1. Sign up with the MBS consignment rental agreement
  2. Place orders within your existing wantlist process

That’s it. MBS will handle all invoicing and payments, alleviating the store’s administrative processes. If you have any questions or for more information, contact your MBS Territory Manager.

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