Follett Higher Education Group First to Save Students $1 Billion on Textbooks

OAK BROOK, Ill., Aug. 13, 2012 /PRNewswire/ -- Amidst rising higher education costs and student loan debt, college students across the country set a new record for saving this fall. Follett Higher Education Group announced students have saved $1 billion in the past three years on textbooks, the second largest out-of-pocket expense after room and board.  Students have saved through the company's popular Rent-A-Text, Used, Buyback and Digital programs.

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"As the cost of higher education continues to rise, providing access to affordable course materials is critical," said Tom Christopher, President of Follett Higher Education Group. "Saving students more than $1 billion demonstrates our commitment to providing more affordable, convenient options that give students access to the materials they need to succeed in the classroom."

Follett reaches more than five million students, and provides affordable textbook options through more than 900 campus stores and online via efollett.com. Some of the company's most popular programs include:

• Rent-A-Text: Follett's rental program saves students 50 percent or more off the price of a new textbook. Rent-A-Text gives students the freedom to highlight and take notes in their textbooks (within the normal wear and tear associated with coursework). Students have expressed strong support for the program with 99 percent saying they would rent again from the bookstore. 
• Used: Follett maintains the largest used textbook selection in the industry, resulting in deep savings for students. At the end of the semester, students can sell their books back to the campus store for additional savings.
• Digital: Students can save 40-60 percent off the price of a new textbook using Follett's CafeScribe^® digital textbook platform. CafeScribe users can read and study on Macs, PCs and most web-enabled devices like tablets and smartphones. This device agnostic approach saves students from having to buy additional devices and provides the freedom to study anywhere, anytime.

Follett also gives students more payment options to make the cost of college more affordable, such as paying for books and supplies with financial aid and campus cards - a service that other online retailers can't offer.

Even More Options

This fall, students will have access to even more digital options, including Inkling^® digital textbooks, available at Follett campus stores and online via efollett.com. Inkling's enhanced, interactive titles include numerous features such as video, interactive assessments, animation, music, slideshows and 3D models. Students will also have the option to purchase the entire Inkling textbook or "Pick 3:" a cost-saving alternative that allows students to buy just three chapters for a fraction of the price of a full textbook. For the first time, students will have the flexibility to use financial aid and campus cards by purchasing Inkling titles through Follett.

The Next Chapter in Affordability

Follett continues to work in partnership with a variety of schools to develop new ways to drive down course material costs and improve student success. The most recent example is the company's new includED™ pilot program that allows schools to provide required course materials to students as part of tuition or fees. The includED program is currently in pilot at several top universities.

For the most up-to-date list of Follett-managed campuses and virtual bookstores offering Rent-A-Text, visit www.rent-a-text.com. For more information on CafeScribe, visit www.cafescribe.com.

About Follett Higher Education Group

Follett Higher Education Group of Oak Brook, Illinois, is the leading provider of bookstore services and the foremost supplier of used books in North America. Follett services five million students and over 400,000 faculty members through more than 900 stores. Follett also services more than 1,600 independent campus stores with its wholesale services, and has the most visited ecommerce collegiate website, efollett.com, that provides services and products through a network of more than 1000 campus stores.

About Follett Corporation

Follett Corporation is a $2.7 billion, privately-held company that provides products, services and solutions to the educational marketplace. Follett Corporation was founded in 1873, and today is headquartered in River Grove, Illinois.

Inkling is a registered trademark of Inkling Systems, Inc.

SOURCE Follett Higher Education Group

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