You need to separate the publishers wishful thinking from reality.
The reality in many states is that students can't be forced to pay their way through public school. Thus the cost of the iPads will have to be picked up by the schools along with the cost of the books.
The most rational approach for schools would be to configure an iPad for a specific grade level and issue it to students at the beginning of the year. Each iPad would be collected again at the end of the year to issue to the following class. I see almost zero chance of annual sales of books flying, there has to be an economic benefit in order for schools to adopt this approach and parents will have zero desire to pay an annual fee to cover the cost of books. Many states are already looking at self publishing to get around the rip off pricing from the big publishers, this will just make it easier for schools to control costs.
I love the idea of reducing the cost of textbooks -- but shifting the cost from communities to public school students causes serious equity problems. The cost of paying for textbooks for a year might not seem significant to those of us who buy (and follow) Apple products -- but it's a hell of a cost to people living on the brink, and an impossible one for millions of poor, unemployed, underemployed, or merely underpaid people.
In a democratic society, access to primary and secondary schools, and access to the texts used in those schools, must be unfettered. The entry cost to this system is high: an iPad. Who pays for that? The student (or her parents) or the school district? If it's the student -- what happens to public education if her parents don't have the money for the iPad? If it's the school district: what happens when the student loses, drops, breaks, or damages her iPad?
The cost of books (paper) suitable for higher education isn't trivial either. I'm not sure many are aware of the expense to schools every year for texts. It is significant and frankly iPads in this role will only succeed if there is a real economic benefit to the school. That benefit will only realize itself if the cost of "books" is significantly reduced or eliminated. A years worth of books might cost a school $450 per student if replaced every year at current rates. Obviously schools reuse books from year to year so the average cost is lower.
So how do you fit an iPad into this structure. Well first an educational discount would be nice. Also you would need a much lower cost for materials, that is "books" and other apps used on the device. Even after all of that you would need to put the iPad to use for more than one school year. There is no doubt Apple will have to struggle to win on an economic point.
Apple does have a few things going in their favor. For one students and parents at all levels are really starting to resist the high cost of "books". What is really bad at the high school level only gets worst post high school. So, at least at the high school level, people are really starting to look at alternatives to the corrupt text book industry. Though often portrayed negatively in the media many states have opted to publish their own standard text books, this driven by economics more than anything.
I'm not a Luddite -- as I said, I like lots of what I see here. But access matters, and figuring out what the consequences are for our civic future is important.
Well right now I think the trick is to make the use of iPads appear to be less expensive. In fact without the ability to realize a cost savings iPads don't have a chance in hell. The problem is though, what do you do about the poor school districts like the one I grew up in? There a set of books was expected to last five or more years, in fact I went through most of my pre college education with used books and can't remember more than possible two that where brand new. That was K-12.
So like you I'm not sure about this move. Obviously Apple sees a need to get costs down for the materials. The problem is iPads simply aren't cheap enough to hand out new every year. If schools could get free texts, iPads might work in some districts if students keep them for maybe three years. That with a discount from Apple so that the school is spending not more than $150 per year.
Even then many districts could not afford iPads as a replacement for books.
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No problem. My roommate has an iPad and no Lion, so it's nice he can be included in the party, too! More people still have 10.6 than 10.7.
Issues that access to iBooks won't solve.