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The course material provider Rafter has shut down, according to a message on the company's website. Rafter spun off from the textbook rental company BookRenter and became an early provider of flat-fee course material services that allowed colleges to include the cost of textbooks in tuition, ensuring access to all students.

"For our small part, we sought ways to make books and other course materials -- which are essential to the learning experience and the ability to earn a college degree -- more affordable and accessible for every student," the company said in the statement. "We worked hard. We dreamed big. And we are eternally grateful for the privilege we were given to learn from and serve this market. In the end, we did not have the time or resources needed to complete what we started."