Students from universities across the UK are beginning to wake up to the extortionate prices book stores and publishers charge for new textbooks.

Recent studies have shown that students use, on average, 12 different textbooks over their time at university which can cost upwards of £200. Savvy students have long attempted to side-step these costs using their library or buying used textbooks from their older peers. However, libraries only provide limited numbers of books, forcing students to wait in line and buying used was only possible when you had the right contacts in the year above.

An entrepreneurial student from the London School of Economics saw these problems and created a solution that wrestles the expensive issue of textbooks into a smooth, stress-free, cheap one. He envisaged a website where students could buy and sell textbooks without being charged any commission. The idea is now a reality in the form of TextbookExchange.co.uk, which draws the interest of students who want to get a better deal on textbooks.

Sanjay Dave, an LSE student from Dartmouth, plans to use TextbookExchange.co.uk. "As a law student, I spent almost £300 on books last year. I'll definitely be buying online. I am not going to Waterstones. They don't have too many used books," he said. Thousand of students in the UK feel the same way, Textbook Exchange could not have come at a better time, with money on everybody's mind in the current climate, students are looking for alternatives.

"Students have always bought and sold used textbooks, but usually to people they already know and in a very informal way, what TextbookExchange.co.uk tries to do, is become the go-to place where a much wider selection of books is available. This means bigger savings for buyers and a larger audience for sellers." Says Textbook Exchange founder, Janak Shah.

Students are constantly looking for ways to supplement their student loan, selling textbooks on the exchange means that they are able to set their own prices, rather than having to accept ludicrously low offers from stores.

A key feature of the exchange was making the service accessible to all and the site has been carefully molded around ease-of-use. "You enter what you have, or what you want and we'll do the rest." Janak Shah says. "We've also differentiated ourselves from the likes of Amazon and Ebay in that we don't charge a fee or commission to those selling their books. Our service is completely free."

Although some texts are now available in electronic form, students still seem to prefer books in physical form, which means the future looks bright for TextbookExchange.co.uk .