August 9, 2010
Toronto, ON – When school resumes in September this year, students at the University of Toronto could potentially save hundreds of dollars when shopping for their textbooks.
This summer the University of Toronto Bookstore introduced a small pilot program that allowed students to rent their textbooks instead of buying them outright. The test run was so successful that the Bookstore will be expanding the initiative to include many more titles when classes resume in the fall.
“The goal of the summer pilot program was to quickly learn what was necessary to provide the best program possible on a larger scale in September,” says Chad Saunders, Vice-President of Retail at the UofT Bookstore. “The overall response from students, faculty and publishers has been extremely positive.”
Students can now rent their textbooks from the bookstore, use them for the term (some highlighting and note-taking is okay) and then return the books when the course ends. Students generally save 40 per cent off the purchase price by using this method. So instead of spending more than $170 on a textbook, students can now rent that same book for $100.
The savings quickly become substantial. A student carrying a full course-load could save between $200 and $300 in a single term if all of their books are available to be rented. Students can go to the UofT Bookstore website to see if their books are available for rental.
One key improvement made by the UofT Bookstore over similar programs in the U.S. is that a student is guaranteed to get a new book every time. All transactions are completed online and students can pick up their new rental textbooks from the Bookstore. UofT was one of the first schools in Canada to offer a textbook rental program with many other schools following suit.
For more information, please contact:
Media Relations Assistant
VP Retail, University of Toronto Bookstore