NEW YORK, Feb. 8, 2018 /PRNewswire/ -- Today, McGraw-Hill
Education announced the latest in a series of initiatives to make
course materials more affordable and effective for millions of U.S.
college students by launching a new textbook and eBook rental
program for its more than 250 copyright 2019 titles, as well as all
future titles.
Rentals will be available starting this Spring through the
company's eCommerce channel on MHEducation.com as well as through
approved distributors. New titles will be available to approved
distributors on a consignment basis for their own rental programs
at prices that are significantly lower than what they pay on a
wholesale basis today. The program is open to all distributors of
McGraw-Hill Education's higher education textbooks. To date,
McGraw-Hill Education has finalized agreements with two leading
textbook providers: Barnes & Noble Education (NYSE: BNED),
through its Barnes & Noble
College and MBS Textbook Exchange subsidiaries, and Chegg,
Inc. (NYSE: CHGG). Additional distributor discussions are underway
to ensure that the company's rental program is widely available to
students.
Building on its leadership in delivering affordable, high-value
digital learning solutions like McGraw-Hill
Connect® and
ALEKS®, the rental program is expected to
save students as much as 70 percent off the costs of traditional
bound print textbooks.
"For us, it's about driving real value for students and
instructors while preserving choice," said Bill Okun, President of Higher Education at
McGraw-Hill Education. "We want to help students be more successful
and instructors achieve their teaching goals, at an affordable
price that meets their needs. By shifting the way we deliver
hard-bound textbooks, we're providing another important option to
access McGraw-Hill's high-quality
content and curriculum at a lower price."
This announcement marks the continued expansion of McGraw-Hill
Education's affordability initiatives – including digital learning
solutions that embed interactive content, assessment tools and
actionable analytics; digital and print bundles; eBooks; mobile
applications; looseleaf; and open educational resources (OER) for
select titles. Depending on the format, these solutions are
available for purchase, rent, subscription or through institutional
Inclusive Access agreements, which enable the delivery of digital
materials directly to students for first-day-of-class access.
By working with Barnes & Noble Education and Chegg,
McGraw-Hill Education is able to make its affordable, effective
materials available to millions of students across the country.
Barnes & Noble Education serves more than 6 million students
and their instructors through its nearly 1,485 physical and virtual
campus bookstores, and in addition serves more than 3,700
institutionally run and contract managed stores through its MBS
Wholesale business. Chegg's connected learning platform for
students reaches approximately 10 million unique visitors in a
month.
"We are excited to partner with McGraw-Hill Education on this
initiative, expanding our robust offering of rental titles for the
students we serve," said Patrick
Maloney, President of Barnes & Noble College. "Offering a wide array of
affordable course material options for our students and faculty is
a top priority for Barnes & Noble
College. In partnering with McGraw-Hill Education on this
new rental program, we can leverage our nearly 1,485 campus
bookstores to ensure students have access to the affordable
materials they need to succeed in the classroom."
McGraw-Hill Education will also work closely with MBS to ensure
the Company's rental program is widely available to students served
by all bookstores, both contract managed and institutionally run,
beginning this fall.
"We are pleased to take part in McGraw-Hill Education's rental
program, and look forward to further expanding our distribution
partnership," said David Henderson,
President of MBS Textbook Exchange. "MBS will seamlessly integrate
McGraw-Hill Education's rental titles into the ordering process for
all bookstores we service, providing a streamlined ordering and
distribution process for our clients. More importantly, this will
provide our clients greater access to affordable course material
options for their students."
"Removing barriers for students and saving them money while they
pursue their educational paths have always been core pillars to our
mission. By partnering with McGraw-Hill Education, we continue to
expand our relationship with partners to provide students with
excellent course materials at an excellent price," said
Nathan Schultz, Chief Learning
Officer, Chegg.
For more information about McGraw-Hill Education's focus on
affordability and outcomes, visit:
http://mheducation.com/realvalue
About McGraw-Hill Education
McGraw-Hill Education is
a learning science company that delivers personalized learning
experiences that help students, parents, educators and
professionals drive results. McGraw-Hill Education has offices
across North America, India, China,
Europe, the Middle East and South America, and makes its learning
solutions available in more than 60 languages. Visit us at
mheducation.com or find us on Facebook or Twitter.
About Barnes & Noble Education, Inc.
Barnes
& Noble Education, Inc. (NYSE: BNED), a leading
provider of educational products and services solutions for higher
education and K-12 institutions, enhances the academic and social
purpose of educational institutions. Through its Barnes &
Noble College and MBS subsidiaries,
Barnes & Noble Education operates 1,483 physical and virtual
bookstores and serves more than 6 million students and faculty, and
offers a suite of digital software, content and services including
direct-to-student study tools. The Company also operates one of the
largest textbook wholesale distribution channels in the United States. Barnes & Noble
Education acts as a strategic partner to drive student success,
provide value and support to students and faculty, and create
loyalty and improve retention, while supporting the financial goals
of our college and university partners.
BNED companies include: Barnes & Noble College Booksellers,
LLC, MBS Textbook Exchange, LLC, BNED LoudCloud, LLC, Student
Brands, LLC, and Promoversity, LLC. General information on Barnes
& Noble Education may be obtained by visiting the Company's
corporate website: www.bned.com.
About Chegg
Chegg puts students first. As the leading student-first
connected learning platform, Chegg strives to improve the overall
return on investment in education by helping students learn more in
less time and at a lower cost. Chegg is a publicly-held
company based in Santa Clara, California and trades on
the NYSE under the symbol CHGG. For more information,
visit www.chegg.com.
Contacts:
Tyler Reed
McGraw-Hill Education
(646) 766-2951
tyler.reed@mheducation.com
Carolyn J. Brown
Barnes & Noble Education, Inc.
(908) 991-2967
cbrown@bned.com
Heather Hatlo Porter
Chegg, Inc.
(408) 785-2028
press@chegg.com
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SOURCE McGraw-Hill Education