Renting textbooks saves money, helps Mother Nature

Nov 4 2009 - 11:40pm | Alejandro Martinez

Students have historically been faced with limited money-saving options as far as buying textbooks.

Used or new, students say purchasing textbooks from the campus bookstore can be costly. According to the College Board, students spend an average of $1,000 a year purchasing textbooks. Students are given the option of re-selling textbooks to bookstores at the end of each semester, but at a fraction of the purchased price or with chances of rejection, thanks to new editions or changes in curriculum.

Companies such as Chegg.com, BookRenter.com and CampusBookRentals.com have emerged to offer students another option: renting instead of buying. This new paradigm is a wake-up call in what Chegg.com co-founder Aayush Phumbhra calls, “a sleepy industry.”

Through companies such as Chegg, students can go to the Web site, find and order their books, which are later mailed to them. Students send books back in the same rented box at the end of the semester, comparable to the popular system used by Netflix.

By renting through their Web site, Chegg boasts to save students 40 to 70 percent on the cost of textbooks. Ashley Lengen, Chegg representative, said since the company’s inception in 2007, it has saved Texas State students almost $260,000 overall.

Rachel Osterhus, psychology senior, said she chose to rent her textbooks online for the first time this semester using Chegg.com.

“The main issue is cost,” Osterhus said. “I don’t like buying from the bookstore because most of the time you have to buy new books, and you rarely get any money selling them back.”

Chegg officials have begun offering a head-to-head challenge to university bookstores. Students are asked to price a semester’s worth of textbooks from the campus bookstore compared to the cost of renting the same books from their company. If Chegg proves to be more expensive, the company will refund the difference to the student in cash.

“We’re not here to make a statement,” said Phumbhra. “We’re here to save students money.”

Chegg employees emphasize renting from them benefits the environment with its “Rent-A-Book, Plant-A-Tree” program in partnership with the American Forests ReLeaf Program. The company celebrated planting over 1 million trees, making them the largest tree-planting partner in the Releaf program. These measures encourage the recycling and re-using of old textbooks.

“Students love the environment, and so do we,” said Phumbhra. “Renting (textbooks) itself saves trees and repairs the damage already done.”

The issue of expensive textbooks was recognized by the federal government. The Higher Education Opportunity Act, passed last year, included $10 million for grants to support textbook rental pilot programs.

“Before companies like Chegg, there seemed to be a monopoly over the industry,” said Osterhus. “This could be the future of buying textbooks.”

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