In response to the high cost of textbooks and other course materials, "Inclusive Access" automatic billing programs allow the cost of a discounted eTextbook and/or courseware to be automatically added to a student's tuition bill at the time of course registration. Touted for their ability to lower costs and provide students with access to materials on or before the first day of class, these automatic billing programs have become increasingly prolific across the higher education landscape. At the same time, research into many aspects of the program's impact and efficacy remains lacking. This study examined academic outcomes from an "Inclusive Access" pilot launched fall 2019 by Tennessee's largest system of public higher education. Results from across 13 community colleges and 141 courses spanning 41 course areas indicated no significant differences in either overall or population-specific academic outcomes between the "Inclusive Access" pilot semester and the two prior falls in which the courses were taught. The findings demonstrate that benefits accrued from relative cost-savings and/or Day One Access were insufficient to produce significant improvements in academic outcomes, with no significant differences in outcomes evidenced for nonwhite, federal Pell grant award recipients, and/or non-traditional students over the age of 25. These results suggest that measures beyond cost-savings and Day One access, such as hidden costs, the need for perpetual access, and the repercussions to student debt from deferring college expenses, should also be considered when evaluating ways to provide students with affordable course materials that enable high-quality, equitable learning experiences.