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In this time of economic downturn, government cuts and austerity measures are affecting every single facet of our society. No demographic is left untouched as everyone from the very poor to the absolute richest are facing troubling financial times in the present, and foreseeable future. From cuts to pensions and care for the elderly, right down to education and child benefit cuts, the whole of the nation is bracing itself for some troubling years ahead.

Students are getting caught up in the thick of it too, with some University fees being multiplied in triplicate, and general living costs and food costs going through the roof. It has never been more financially difficult to move away from home as it is now because as we all know; different costs keep mounting up if not monitored closely, and there is always a new payment just waiting around the corner.

 For students, those costs are just the half of it, as the vast majority of college and University courses feature extensive reading lists, suggesting the purchase of multiple different textbooks every single semester. It may sound easily manageable in theory, but when the cost of all of these books is weighed up in total, it can contribute quite a sizeable portion of a student’s overall budget. Any relief to the way in which a student has to shell out for these purchases is always welcome, and this is where Penpee comes into the equation.

Penpee offers an innovative new approach in the industry of textbook rental and finance, combining the established idea of online book retail with the unique concept of a finance model. If a student would have trouble being able to afford forking out the entire payment for a vital textbook all at once, they can set up an account on Penpee.com and create a wishlist, prioritising their choice of book. With the finance model, the student need just pay a small deposit, and can then spread the cost of the book over a prolonged period of time, whilst simultaneously using the book to study with.

The financial benefits of this system could make all the difference to those students that need a vital textbook for their course, but for whom money is short. Students can get started with a deposit as low as £3.99, and aren’t subject to any credit checks. Penpee were also the first company in the UK to offer a textbook rental service, and can boast of savings up to 80% off a textbook’s retail price when rented. Rental periods can be 45 days, 60 days, or up until the end of the semester, and the option to extend the duration is always available.

Those who wish to sell new or used textbooks are also encouraged to sign up to Penpee’s online community, as it is guaranteed that if a particular book is currently wanted by Penpee, an offer at a competitive price will be made. An offer to invest is also available; as anybody is given the chance to finance a textbook themselves through Penpee.com. Sign up to the site now, and investment opportunities are available with a considerably low risk spread.

There is no right or wrong amount to invest, as investors can front the full price of a textbook, or spread their investment over multiple different titles or copies. The expected period before a financial return is seen can be as little as 30 days, and up to 10% interest can be expected on a single textbook. Aside from the fact that investment opportunities will garner fantastic financial rewards; the peer-to-peer nature of the system there ensures that there is also the realistic chance that your investment would help fuel the next generation of graduates that will be vital to our economy as a whole.