As part of its effort to remake its higher education business, Pearson has struck a textbook rental deal with the National Association of College Stores subsidiary, indiCo.
Under the agreement, which goes into effect this fall, 50 Pearson titles will be available via a rent-only model from the 1,500 independent campus stores through indiCo. All titles will be available to rent for less than $100. To make it more affordable for stores to participate in the program, Pearson will sell the included textbooks on a consignment basis.
While students will be able to rent textbooks online, Bob Walton, NACS CEO, said he believes students will appreciate the chance to rent and return the books at the local campus store. “Rentals can provide a significant cost savings, but online returns can be a hassle. Additionally, it’s easy for students to select the wrong materials when shopping with online retailers.”
NACS remodeled indiCo this spring, making it a collaborative that an offers operational assistance to college stores in a bid to slow the loss of independent college stores.
After sustaining poor results in its North American higher education business in 2016, Pearson said in January that it was committed to finding ways to make its materials more affordable for students. In addition to its agreement with indiCo, Pearson has announced a series of new cost-cutting initiatives for students that will go into affect this year.
This article has been updated for clarity.