The University of Miami will soon be selling college textbooks on the first day of the fall semester.
The university announced Tuesday it is selling online textbooks through its student-run online store and will also sell print textbooks and hardcover books from publishers including Penguin Random House, McGraw-Hill, Simon & Schuster and Random House.
The first class of textbooks will be on sale on Wednesday, with the rest of the books to come later in the fall.
University of Michigan president Kent Hance announced the new plan in a letter to the university’s Board of Trustees.
Hance said the new sale will help increase enrollment, boost research funding and provide students with the tools to become professionals in the fields of education, health care and technology.
“This initiative will help us to ensure the future of our institution,” Hance wrote.
“We look forward to working with our partners to bring you great products, as well as great value for your support.”
The sale is expected to add $200 million to UM’s $1.8 billion budget and to generate $1 billion in new revenue annually, according to a statement.
The new textbook program is not the first university to sell online books.
In August, the University of California, Santa Barbara sold online textbooks and used books for $1 a pop.
The University at Buffalo, which is part of the University System of Georgia, also recently started selling online books and used textbooks.
Last month, the Ohio State University and the University at Albany announced they would sell online textbooks in 2018 and 2019.