SOURCE: Rafter

Rafter

November 19, 2014 08:30 ET

Rafter Throws the Book at Spiraling Textbook Costs: Saves Students Money With Complete Textbooks-in-Tuition Solution for Any Campus

New Tech-Based Model Offers Students Low Flat-Rate With More Than 50% Savings for Full Year of Materials

SAN MATEO, CA--(Marketwired - Nov 19, 2014) - With the spiraling cost of course materials burdening both students and schools, Rafter, a leading course materials management company, today announced Rafter360™ -- a new tech-based solution that enables a comprehensive textbooks-in-tuition model for any campus. After students register for their courses, they are automatically provided 100 percent of their required materials for day one of class, increasing their chances of success and saving them money. Two colleges currently using Rafter360, Thomas More College in Kentucky and Schreiner University of Texas, have already reported students saving 55 percent and 54 percent respectively on the costs of textbooks.

Rafter, previously known as BookRenter, is an established course materials management company that has helped over 2 million students save more than $525 million on textbooks. Building on its course materials experience and long-term relationships with hundreds of colleges and suppliers, Rafter set out to redesign and transform the entire process of course materials management for the student, the campus and the faculty.

"It was clear there needed to be a better way to take control over the skyrocketing costs of textbooks and make sure that students have the content and materials they need to be successful," said Sara Leoni, CEO of Rafter. "With Rafter360, we changed the game by designing the program to fully automate the course materials process. We looked painstakingly at every angle to make sure our solution would benefit all stakeholders -- students, faculty, and campuses -- with greatly reduced costs for students, freedom of choice for faculty when choosing course materials, and ease-of-use for administration and staff.

Student Savings Significant
For students, Rafter360 makes it simple and affordable to get all the materials they need for their classes with a flat rate price offering savings of over 50 percent. This reduced fee is factored directly into their tuition, making course materials a predictable and budgeted expense. Studies* show that textbooks and supplies cost approximately $1,200 a year and some 65 percent of students have decided to not buy a textbook due to expense. With Rafter360, once a student is registered for their courses, professors adopt materials (in print or digital format) and the system then manages the process seamlessly behind the scenes. All students need to do is pick up their package of materials waiting for them at the campus bookstore or the campus can opt to have the entire order sent to students' homes. Students simply log in to the system to start using any digital materials. Based on a library model, when the academic session is over, students return the textbooks to the campus store and keep or recycle used workbooks and trade materials.

Campuses See Multiple Benefits
By adopting Rafter360, colleges can differentiate themselves as student advocates and technology innovators. The solution saves students money while also ensuring they are well equipped to succeed in the classroom, and Rafter360 gives campuses a path to the future as instructional materials evolve from print textbooks into digital experiences.

According to Bill Muse, VP of Administration and Finance at Schreiner University, "For Schreiner to get on the leading edge like we have by offering a books-in-tuition solution, it was really critical that we were able to partner with a provider like Rafter. We could not have done this on our own. Students love the convenience and the level of service in the bookstore. It's a win-win and we are delighted."

Pricing and Availability

Rafter360 is now available by contacting Brian Bates at 650.393.8698 or emailing rafter360@rafter.com. The price is individualized per school based on a proprietary algorithm that takes into account each school's unique historical textbook adoption and course enrollment data.

More information about Rafter360 can be found at www.rafter.com/our-solutions/rafter360/

About Rafter
Rafter, previously known as BookRenter, is an established course materials management company. Hundreds of campuses and over 2 million students have used Rafter's technology to save more than $525 million on textbooks. The company's mission is to help students save money and be prepared for success in the classroom. Building on its course materials experience and long-term relationships with hundreds of colleges and suppliers, Rafter is redesigning and transforming the entire process of course materials management with its new Rafter360™ technology solution. Based in San Mateo, California, Rafter was founded in 2006.

* Senack, Ethan. "Fixing the Broken Textbook Market: How Students Respond to High Textbook Costs and Demand Alternatives." U.S. PIRG. January 2014. Accessed November 17, 2014. http://www.uspirg.org/sites/pirg/files/reports/NATIONAL%20Fixing%20Broken%20Textbooks%20Report1.pdf.

Contact Information

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