The funding will be divided among schools that currently have such a system in place as well as helping others start up the initiative.
It’s all part of a 15 million euro nationwide announcement by the Education Minister.
Welcoming the monies Fine Gael TD Noel Coonan says it will mean a great deal to pupils and their families.
However The Irish National Teachers Organisation says government funding for the book rental programme is of little use to schools that already operate the scheme.
