Enter Rent the Runway, a still-young Web site started by two Harvard Business School grads that rents out designer dresses and accessories for a fraction of the retail price. The service became popular for prom dress rentals and then college functions. Today, a quarter of Rent the Runway’s business is at colleges and elite prep schools — and it’s growing, according to an article in Thursday’s Wall Street Journal.

The company has recruited 150 “runway representatives” on 50 college campuses to encourage their friends and classmates to rent dresses by Hervé Léger, Missoni, Christian Siriano or D&G for as little as $50 for two days. The program has been especially popular in sororities and at southern schools such as the University of Georgia and the University of North Carolina.

One of Rent the Runway’s college-targeted slogans: “Have a one-night stand with fashion.”

You can read Christina Binkley’s full article in the Journal, here.