College textbook publisher will lend to students

A college textbook publisher says it will be the first in the industry to rent books directly to students.

Stamford, Conn.-based Cengage (SEN’-gage) Learning says it will cost 40 percent to 70 percent less than the suggested retail price. Students will immediately get the first chapter in electronic format, then will be shipped the book.

Students can already rent secondhand textbooks through third-party Web sites, but publishers complain they’re cut out of that market. They say the reason textbooks sometimes cost $100 or more is that they get one chance to collect revenue — the first time the book is sold.

By renting directly to students, Cengage could collect revenue several times from each book. The company says it will offer several hundred rental titles starting in December.