Washington, DC and Oberlin, OH -- April 20 2017. Today, Pearson and indiCo announced a new partnership to expand Pearson's recently announced textbook rental program to up to 1,500 independent campus bookstores. Beginning this fall, 50 popular Pearson titles will be available via a "rental-only" model, which will provide students with affordable access to the selected titles. This is the first partnership that allows on-campus bookstores to participate in Pearson's rental program and follows an agreement with an online retailer last week. All titles under this program can be rented for under $100, with electronic versions of these titles being the lowest-cost option. Pearson anticipates expanding the titles included in this program over time.
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. The Pearson-indiCo partnership gives students access to affordable course materials along with the convenience and customer service provided by the local campus store.
In January, Pearson announced a two-step plan to take on the issue of college affordability. That plan immediately reduced the prices of 2,000 e-book titles by up to 50 percent. The second phase of the effort ensures that students can rent popular print titles online and in-store through trusted retailers. This rental-only model allows Pearson to reduce prices by up to 60 percent and ensure that all students have access to affordable textbooks. Campus bookstores will receive the books on consignment from indiCo, lowering the inventory cost for bookstores and streamlining the supply chain so savings can be passed on to students.
"Students have been asking us for more choices and better prices on their course materials and--increasingly--for the option to rent their textbooks," said Tim Bozik, president of global product at Pearson. "Pearson is committed to increasing access and affordability of course materials for faculty and students and we are excited to work with indiCo to bring independent campus bookstores these high-quality Pearson materials in a way that works for students."
"indiCo is committed to helping independent campus stores offer students a range of course material options at the lowest cost possible," said Bob Walton, NACS chief executive officer. "Rentals can provide a significant cost savings, but online returns can be a hassle and it's easy for students to select the wrong materials when shopping with online retailers. This rental program partnership with Pearson allows students to save on what they need to be successful in the classroom without sacrificing the convenience and purchasing assistance provided by the campus store."
This program is part of Pearson's ongoing commitment to making college more accessible and more affordable for students. In addition to the e-book price reduction and the print rental program, Pearson has introduced Revel--digital courseware that blends authors' narrative, interactive media, and assessment, enabling students to read, practice, and study in one continuous experience--for less than the cost of a traditional textbook. Students can access Revel with their computer, tablet, or mobile phone for as little as $65.
Pearson has also launched programs such as Digital Direct Access, which delivers digital course materials directly to students on the first day of class. That program can save students up to 60 percent compared to the price of traditional print materials.
And, Pearson recently announced a partnership with IBM Watson to create virtual college tutors, making digital learning easier and more engaging.
Pearson is the world's learning company, with expertise in educational courseware and assessment, and a range of teaching and learning services powered by technology. Our mission is to help people make progress through access to better learning. We believe that learning opens up opportunities, creating fulfilling careers and better lives. For more information, visit Pearson.com.
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 or 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.