I teach in a college and I have a small annual fund allowing me to purchase textbooks. If I do not use this fund, it will expire every academic year and thus I am considering creative ways that I can make good use of this fund.
I use textbooks which the authors have passed away so that I do not need to worry about newer editions. Also, I teach lower-level mathematics and the content of these courses will not change much over time.
I am considering purchasing a few copies of the textbooks of the courses I teach. I am considering one of the following two:
- Allow needy students to use these books for free on a first-come, first-serve basis. I will not check the student's background; instead, I will just trust his/her words on the neediness.
- Allow (any) student to rent these textbooks at a very low fee, say $10.00 per semester.
I am checking here if doing this is legal (especially about the renting part: Do I need any permission/lisence?) and appropriate. Or will it cause some potential problems?