New consignment rental partnership will make lower-priced textbooks available through independent campus bookstores this fall
NEW YORK, NY and OBERLIN, OH — July 31, 2017 Macmillan Learning, a premier educational content and solutions company, and indiCo, a collaborative of independent campus stores, today announced a new consignment rental partnership to provide more college students with lower-cost course materials. Beginning with the fall term, the new partnership will allow independent campus stores to offer their students the cost-saving option of renting select Macmillan Learning textbooks and digital tools. Students will benefit from some of the lowest rental prices in the market, reaching savings of up to 60% of the cost of purchasing a new textbook.
This new program exemplifies Macmillan Learning’s commitment to increase the inclusiveness and affordability of higher educational materials. “Providing students with affordable options for education is a moral imperative for all of us,” said Macmillan Learning CEO Ken Michaels. “Our mission is to improve lives through learning. To do that, we need to put students in the best possible position to maximize their learning with our resources, including the content and digital tools that will drive their success. We’re pleased to launch this program with indiCo to provide students with the materials necessary to be more successful.”
In addition to the cost savings, this rental program gives students the option to retain access to the content after the rental period. Students can upgrade and continue to access the content via ebook or loose-leaf format for substantially less than the cost retaining ownership under most existing rental programs, and significantly less than the cost of a printed textbook, often spending 80% less than the price of purchasing a new book.
A subsidiary of the National Association of College Stores, indiCo is a collaborative of campus stores committed to supporting affordability, student success and the academic missions of higher education institutions. “This new partnership with Macmillan is one of many indiCo initiatives that help independent campus stores reduce the cost of course materials for students.” said Bob Walton, NACS chief executive officer. “Our research shows that students like to rent textbooks, because it saves them money. This program allows them to do that, and gives them more options without sacrificing the convenience and purchasing assistance provided by the campus store.”
“We have done a complete internal review and overhaul to ensure all of our processes and practices enable us to keep our customer costs down,” added Michaels. “We recently announced several new affordability programs including new digital tools, a student eCommerce option, and partnerships that are in response to the needs of students and educators. This partnership will accelerate our collective efforts to drive affordability and inclusiveness in higher education.”
About Macmillan Learning
Macmillan Learning improves lives through learning. Our legacy of excellence in education continues to inform our approach to developing world-class content with pioneering, interactive tools. Through deep partnership with the world’s best researchers, educators, administrators, and developers, we facilitate teaching and learning opportunities that spark student engagement and improve outcomes. We provide educators with tailored solutions designed to inspire curiosity and measure progress. Our commitment to teaching and discovery upholds our mission to improve lives through learning. To learn more, please visit http://www.macmillanlearning.com or see us on Facebook, Twitter, LinkedIN or join our Macmillan Community.
indiCo is a collaborative business model for operating campus stores that lowers the cost of higher education and improves student success. We offer campus administrators and store directors an alternative to leasing that supports self-operating their campus bookstores. indiCo combines the efficiency, buying power, and guidance promised by corporate lease operators with the flexibility and brand autonomy of an institutionally operated university store. Backed by its parent company, the National Association of College Stores (NACS), indiCo is a trusted partner with deep knowledge of campus stores and an established network of the industry’s leading vendors.
About The National Association of College Stores:
The National Association of College Stores (NACS), headquartered in Oberlin, Ohio, is the professional trade association of the $10 billion campus store industry. NACS provides education and other resources that help its member stores support student success, the campus experience, and the academic missions of higher education institutions. The association represents all campus stores, which include nearly 4,000 campuses in the U.S. and Canada, and approximately 1,000 industry-related companies that supply course materials and other merchandise and services to campus stores.