A textbook exchange is a company that buys and sells textbooks for college students. Textbooks can consume a large portion of a student’s educational budget. Students can significantly reduce their costs purchasing used textbooks or selling unwanted books to a textbook exchange. Previously, such exchanges were only available near major universities. Almost all locations now have access to online textbook exchanges.
In contrast to textbooks used in public schools, college textbooks are only required for a small percentage of university students. They are frequently written experts in a particular field, and occasionally college professors. As a result, textbooks are frequently very costly. For a single semester, the average student can spend a small fortune on required textbooks. This is especially true if the student is pursuing a degree in a specialized field like medicine or computer programming.
Required textbooks were traditionally only available from university bookstores. Some businesses have been inspired the success of bookstores that buy and sell used books to replicate the process for textbooks. A textbook exchange will buy textbooks from students who have finished their courses and no longer require them. As a result, the company can resell the used book for a fraction of its original price. This can be a lifesaver for students who are struggling to pay their tuition and cover their living costs.
Students seeking required texts now have more options thanks to the textbook exchange. Online textbook exchanges can accept used books from students all over the world and ship them almost anywhere using standard package delivery services. This means that students are no longer restricted to the books available at their university bookstore. They can compare prices across the country or even internationally to find the most affordable editions. This alters the supply-and-demand economic factors that drive up textbook prices.
Entrepreneurial business students have even set up their own online textbook exchanges on occasion. The business gives the students experience in business skills such as online marketing, pricing structures, and maintaining profit margins, in addition to easing the financial burden on their fellow students. At least one such service compares textbook prices from online bookstores and university bookstores. Many online bookstores also buy and sell used textbooks, providing a service similar to that of a textbook exchange. While the cost of a university education may still be prohibitive for many potential students, services like these can help make it more affordable.