Students will now have the option to rent textbooks through the University’s Book Store, as an agreement between Barnes & Noble and the University was approved Friday by the LSU Board of Supervisors.
 
According to the Board’s Finance, Infrastructure and Core Development Committee, Barnes & Noble approached the University about the possibility of launching a rental program as part of their current agreement.
Barnes & Noble suggested the rental program’s funding be generated by reducing the rent amount the company pays the University by $25,000 in the first year and by $50,000 in each subsequent year.
Existing agreements require Barnes & Noble to pay the University $1.5 million in annual base rent for the first five years of service, or until 2015. After that period, the rent will increase by a percentage of the gross sales tax or by $250,000.
“I’m willing to give up the rent because I believe it’s worth it,” said Chancellor Michael Martin Friday.
Martin said he thinks the program will be beneficial, as textbook prices are high and the editions are quickly outdated.
“It’s about giving the students choices,” he said.
The committee’s recommendation to the Board states, “The textbook rental program will allow students to save money on the front end through lower price without the worry of whether or not the book will be purchased back at the end of the semester.”
The report states the lease program could reduce the cost of individual titles to students by as much as 50 percent, and there are currently 450 titles priced at 45 percent of the retail price available in the proposed rental program.
Revenues generated by the program will support the LSU Student Union and Auxiliary Services, and the campus anticipates the auxiliary revenue to decrease by the $50,000.
“Despite the reduction in Barnes & Noble rent payment, LSU believes that the new textbook rental program will deliver a significant savings to the student body at only a modest cost to campus auxiliary revenues, and therefore believe that it is in the best interest of the University,” the report said.
In other action, the Board unanimously awarded J. Gerald Kennedy, an English professor and renowned literature scholar, a Boyd Professorship.
“Boyd Professor Kennedy offers a clear and timely demonstration of the value and significance of high quality humanistic scholarship within the context of America’s great research universities,” said LSU System President John Lombardi in a news release.
The prestigious award is based on national and international recognition for research, teaching and/or achievements. Kennedy is the 68th LSU System professor and the 44th University faculty member to be awarded the title.
The Board also approved an increase in pay for several University assistant football coaches as well as a new athletic plan for the University of New Orleans.
UNO will transfer from a NCAA Division I competition to a Division II. UNO will be joining the Gulf South Conference, which currently covers nine institutions.
 
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Contact Sydni Dunn at [email protected]