Textbooks for Rent as a Way to Save Money on College Costs

Budgeting and preparing for college expenditures are challenging tasks that grow more difficult as time passes.

Even after adjusting for inflation, college tuition has increased an impressive 748,8% since 1963 and continues to rise at an annual growth rate of 7,1%. In addition to these fear-inducing numbers, additional costs such as living expenses and supplementary material costs pile up quite fast.

Textbooks are the second most crucial expense for college students—and one of their most pressing worries.

According to a study by the U.S. Public Interest Research Group (U.S. PIRG) Education Fund, 63% of all surveyed students have skipped purchasing textbooks because of their elevated costs. In turn, this influences which classes they choose to take, limiting their options and affecting their performance.

But necessity is the mother of invention, and many alternatives have quickly gained popularity. Among them, seeking textbooks for rent shines bright as the most cost-effective option, particularly if aided by bookseller comparison websites such as BookScouter.

But before discussing book renting and its benefits, it is essential to contextualize the problem and all the solutions born out of necessity.

The Elevated Cost of College Textbooks is Unsustainable

At this point, it is undeniable that the high cost of college textbooks is detrimental to students’ educational pursuits.

As the aforementioned U.S. PIRG results indicate, over two-thirds of the surveyed students skipped purchasing at least one of their textbooks, with 90% growing worried that it would impact their grades.

Perhaps more troubling is that 25% of surveyed students manifested the need to work extra hours to afford textbooks, while 11% skipped meals to gather the resources needed to buy all course materials.

Beyond the predictable effects these actions must have on their physical and mental health, students also deal with the academic consequences. In the same study, 19% of the students confirmed that these worries influenced which classes they took, and 7% reported dropping courses due to their inability to afford textbooks. This system’s unsustainability led to a perplexing effect on the market.

College Textbooks are More Expensive, But Students are Spending Less

For the last two decades, college textbook statistics have pulled in opposite directions—textbooks cost more, but there is a continued decrease in textbook spending.

The American Enterprise Institute—with data from the U.S. Bureau of Labor Statistics—reports that from 2000 to 2021, college textbooks prices have increased 162%, far more than inflation would dictate. Hospital services and college tuition are the only goods and services with a dramatic cost increase.

To put things in perspective, college textbook prices increased three times over the average annual inflation. That is why many higher education institutions advise their students to set aside a few thousand each year for textbook expenses—an amount not many can afford. At the same time, and in parallel with increased costs, textbook expenses have significantly decreased.

The National Association of College Stores (NACS) annual survey determined that during the 2021-22 academic year, students spent a yearly average of $339 on course materials—less than half of the average from 2007-08 and the lowest since the report began in 1998.

 Thus, the numbers don’t lie—students spend less on textbooks simply because they cannot afford the ever-growing costs. And there is a non-zero possibility that prices will keep growing to compensate for the lost revenue.

But those students that skip purchasing textbooks are not giving them up altogether—they found alternatives.

Popular Alternatives to Purchasing Textbooks at Full Price

Students are resourceful by nature—inventiveness helps them overcome ever-growing expenses. That, of course, includes bypassing the ever-high textbook costs.

A 2019 survey of students from Gettysburg College—a liberals art college with 2,600 undergraduates—found fascinating results regarding students’ resourcefulness with textbooks.

For starters, only 1.1% did not try any technique to reduce textbook costs, which means 98.9% of students were applying strategies to avoid expenses. Likewise, less than 10% would buy lifetime access to digital copies of the books.

Overwhelmingly, most students avoided purchasing new books altogether, with 49.5% buying used copies whenever possible. In turn, 26% of the surveyed population sought to recover some of their initial investment by selling their used college books to other students—an option that keeps growing in popularity.

However, the most popular option amongst the surveyed students was renting. In fact, over 50% choose to rent a copy from the campus bookstore for convenience, and 39% opt to rent elsewhere in the perpetual search for more affordable costs.

By all means, it seems the most viable option. For starters, it gives students full access to the information they need while avoiding the high costs of buying a textbook that will only be useful for a few semesters.

Finding Textbooks for Rent with BookScouter is an Efficient Option

Book rental is cost-efficient and straightforward, as long as students keep in mind the best strategies to guarantee minimal expenses.

Naturally, the first step is searching within your local library, as you could rent them for free if available. A second option is considering acquaintances within the campus, as there is a high chance they may own the textbook and show interest in providing it.

If it fails, then it is worth considering online alternatives—there are many online rental websites with competitive rates worth exploring. In such circumstances, your best bet would be to rely on BookScouter for extra support.

The reason is simple: it helps you make an informed choice with minimal effort.

The platform searches for availability across the database of over 20 vendors—all you need to do is input the textbook’s name, author, or ISBN. Once found, it compares prices and reviews, showcasing the pertinent info and making it easy to find the best rental offer immediately.

While rental is the most affordable option, comparison shopping engines such as BookScouter provide the tools to ensure you get the cheapest and safest deal.

Conclusion: Necessity is the Mother of Invention

The very nature of the college textbook market is what keeps prices on a perpetual uphill climb.

Four publishers control more than 80% of the textbook market within the United States. Their overwhelming power and lack of competition mean they can get away with high prices, as consumers cannot rely on their books.

What is more pressing is that college students are mandatory consumers—they do not buy books out of curiosity but out of necessity since they are required to do so. Each new semester means new mandatory consumers, which guarantees perpetual profits.

But students do not care about major corporations’ profits—they want to protect their finances in a country where tertiary education keeps them in debt.

Finding textbooks for rent with comparison tools such as BookScouter is only one of the many loopholes students can find to guarantee budget-friendly knowledge.