As noted by MacRumors, Apple has recently introduced a new model of the low-end 21.5-inch iMac to educational institutions that brings slightly downgraded specs and shaves $200 off the price of the entry-level iMac available to consumers.
Replacing the old $999 iMac for education option, the new $1,099 21.5-inch iMac (ME699LL/A) offers 4GB of RAM, Intel HD Graphics 4000, and a 500GB hard drive. That’s compared to the 8GB of RAM and 1TB hard drive Apple includes in the regular entry-level model. Apple is also including a 3.3GHz dual-core Intel Core i3 CPU in the machine instead of the usual 2.7GHz quad-core Intel Core i5.
The new education model offers most of the usual built-to-order options, including the ability to upgrade to a 1TB Fusion Drive and up to 16GB of RAM.
Apple just recently dropped shipping times from 1 to 3 days down to “within 24 hours” for the new iMacs in its North American online stores, but the new iMac for education is shipping in 5 to 7 business days.