IAIA Launches Textbook Rental Program

Cost of Books Now Included With Tuition

SANTA FE, N.M. - With the start of the Fall semester this year, IAIA students will no longer have to worry about additional costs for textbooks for their classes.  IAIA has implemented a textbook rental program though a vendor, Rafter, that works with the IAIA Bookstore to provide necessary textbooks to students for a fraction of their cost. 

 "Finances" has consistently been the number one reason students have cited for leaving the college before finishing their degree.  Many times this included not being able to afford tuition, but it also meant they couldn’t afford the out of pocket cost for books.  Students who did not have the required textbooks from the beginning of the semester ultimately fell behind in their classes, further discouraging the students and affecting their grades.  The result was that they didn’t or couldn’t re-enroll the next semester.

IAIA’s CFO Larry Mirabal, and Bookstore Manager Guillermo Tilley decided to address this by exploring third-party vendor options for implementing a textbook rental program.  Having the Bookstore involved provides students with a local resource to assist them, should any issues arise.  This leaves students able to focus on learning while they attend.

Rolling the cost of book rental into tuition is advantageous for numerous reasons.  First, it gives students far more financial aid options to cover the cost. Second, students will no longer have to scramble each semester to find out-of-pocket resources or obtain advances to buy the books they need.

IAIA ‘s President Dr. Robert Martin, along with Chief Financial Officer Larry Mirabal, made the decision to partner with Rafter, utilizing their "Rafter 360" textbook solution.  Although Rafter has other college clients all over the country, IAIA is currently the only college in the state of New Mexico that is utilizing this product.

The Rafter program synchronizes on an hourly basis with IAIA’s student information system, so when students register, add, or drop a class, the system updates in real time and adjusts the quantity of required texts automatically.  All text swaps are handled in the Bookstore;  the students never have to concern themselves with shipping issues.

"Having the necessary funds to purchase textbooks was a challenge we all faced as college students.  It is a challenge that is almost as old as higher-education itself -- so we knew it would take an innovative solution to address it", noted CFO Mirabal.  "By having their textbooks in-hand on the first day of class, the students take the first step in really feeling an ‘ownership’ of their education.  It is our hope that this new initiative will increase enrollment and retention, but most importantly, student success in the classroom.  That’s what we’re all about here at IAIA."