University Book & Supply has been a cornerstone business to College Hill and the UNI community for the last 80 years. From its location on 23rd Street, it provides the UNI and the neighboring community with school supplies, textbooks, UNI apparel and plenty more.

Recently, UNI purchased University Book & Supply and reopened it as the UNI Bookstore. The purchase was finalized on Tuesday, Feb. 27.

The address of the bookstore will remain the same, but other changes will be made to the business in hopes of lowering costs to benefit its customers. UNI students will now be able to charge purchases to their U-Bill and use financial aid to cover it.

Michael Hager, UNI senior vice president for finance and operations, spoke about the acquisition to the Des Moines Register.

“Online competition has cut into the business, but it can still be a profitable business if it’s run right,” Hager said.

The National Association of College Stores estimates that students spend an average of $600 a year on college materials alone, mainly in textbooks.

“I think that UNI buying the bookstore was an awesome decision because, as a student, books can be such a burden because they’re so expensive,” said Riley Clark, a sophomore biology major. “It will be much less overwhelming for students to get books when they don’t have to worry about buying super expensive ones. It will help all students succeed more because they can afford to buy the necessary books rather than choosing not to because of the price. Overall, this decision will help students immensely and as a student myself I’m very appreciative.”

Before the purchase, UNI was the only school of the three major state schools in Iowa that did not own a campus bookstore. That changed when the university asked the Board of Regents’ for permission to purchase the privately-owned bookstore for $2.4 million when the former owners were nearing retirement and were looking for buyers. The cost of purchasing the business does not include all of the merchandise that the store sells to consumers.

“I think that UNI buying the bookstore is a smart choice financially for students,” said Emma Graen, a sophomore ultrasonography major. “I do, however, believe that based on what I have heard, many people working for the original company who owned it lost their jobs. When a university sets forth the arrangements to buy out someone’s business, they should think of the people that have made that business successful from the start. I believe that is the main downfall.”

According to Hager, money for the purchase of the bookstore will not include any general education funds. The money will come from a loan that will be paid back from the bookstore’s profits.

“I am excited, as a student, to see prices drop and more options to be available because the university now owns the bookstore,” Graen said. “Overall, it was a smart choice for the future of UNI.”