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Apple has unveiled its Education-Only iMac 21.5" Desktop for $1,099 with free shipping. Although it's among the cheapest iMac models we've seen (it's $150 less than buying an entry-level iMac with an education discount), this features much leaner specs than all current iMac systems. For instance, it has an Intel Core i3 3.3GHz dual core processor (other iMacs boast Core i5 or i7 quad core CPUs), as well as half the RAM (4GB RAM) and hard drive space (500GB hard drive). Other features include a 21.5" 1920x1080 (1080p) LED-backlit widescreen LCD, 802.11n wireless, FaceTime HD camera, two ThunderBolt ports, and Mac OSX Mountain Lion. Click here to order; you'll have to enter your school's information or opt to browse as a guest.
Update: Specs corrected.