Ivy Tech Community College receives $2 million signing bonus from Follett

MERRILLVILLE – Ivy Tech Community College will receive the first of three $2 million signing bonus checks from Follett Higher Education Group today in Merrillville.

In March, Ivy Tech announced an eight-year agreement with Follett for the management of 27 bookstores throughout the statewide community college system.  The agreement included a $6 million signing bonus for the College and will result in $1.65 million in renovations to various campus bookstores along with improvements in services and an estimated savings for students that could reach as much as $1.5 million annually through the sale and buyback of used textbooks.

The signing bonus check will be presented by Follett to Ivy Tech Community College President Thomas J. Snyder and Ivy Tech students at a presentation ceremony at Avalon Manor in Merrillville.

The partnership creates improved ability to leverage technology advances and support the community college’s student growth trend.  This fall, Ivy Tech saw the state’s highest enrollment growth of 8.4 percent.  Over the past decade Ivy Tech has increased its enrollment by 78 percent from just over an annual headcount of 62,400 to over 111,100 in 2006-07.

The Follett system offers excellent on-line course book adoption, distance learning support, and faculty tools.  In addition, the partnership will provide an upgraded, contemporary and consistent image to students and other stakeholders.

Follett Higher Education Group is the leading provider of bookstore services and the foremost supplier of used books in North America.  Follett services five million students and over 400,000 faculty through more than 800 stores including other Indiana locations including IPFW, Purdue University, and the University of Notre Dame.

About Ivy Tech Community College
Ivy Tech is of the nation’s largest singly-accredited statewide community college system and the state’s second largest public post-secondary institution with more than 110,000 students enrolled annually.  Ivy Tech has 23 campuses throughout Indiana.  It serves as the state’s engine of workforce development, offering affordable degree programs and training that are aligned with the needs of its community along with courses and programs that transfer to other colleges and universities in Indiana.  It is accredited by the Higher Learning Commission of the North Central Association of Colleges and Schools.

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