image via the Verge

NOTE: The full coverage is right after the break.

McGraw Hill CEO Terry ..wait for it.. McGraw is in attendance.

10:00am: Schiller time! “We’re proud to help students learn”…and “Students are being introducd to the iPad”

10:03: “In general Education is in the dark ages”

10:05: 20,000 EDU apps on iPad. Many more in iBookstore

10:07: 1.5M iPads used in Education.

10:08: “Reinventing Textbooks”

10:09: How do textbooks measure up? Content amazing but portability and durability are bad.

10:10: Roger Rosner on hand to demo iBooks 2 (tip from earlier) demonstration: 3D model in the midel of textbook that kids can rotate.

10:15: Finger as highlighter, change color, etc. all taken to area called “Notes”

10:18 Glossery terms turn into digital flash cards. With Shuffle.

10:20 in the iBookstore there is a new category called “textbooks”

10:21: Schiller back, “That is iBooks 2”

Live now

10:23: New Mac App called “iBooks Author”  Includes Templates (as you’d expect). Very iWorky interface.

10:25: Interactive graphics widgets.  Import from other iWork applications.  “Interactive Experiences without any programming necessary”  However to do complex stuff, Javascript and HTML5 work too.

10:28: “Publishing to the iBookstore is very simple” but also preview on iPad button which sends to connected iPad.

10:30 Not just for TextBooks but publishing all kinds of Books.

10:32 iBooks publisher is available today for Free

10:35: Textbooks are available today as well from all different types of vendors and for different levels of students for $14.99/ea. PEarson, McGraw Hill, Houghton Mifflin etc.

10:37: Not just about high school.  Apple worked with DK Publishing  for beautiful K-6 books.

10:40: Showing video

10:45: There seem to be a few takeaway themes here: This is all free (except the textbooks which are cheaper and a much better value).  This will engage children thereby improving learning.  Publishers make great content and are on board (3 big companies represent 90% of textbooks).  Lots of heartwarming stories.

10:47: Eddie Cue is up for part 2… iTunes U.

10:48: 700M downloads from iTunes U.

10:49 new iTunes U app…with dark wood bookshelf (IVY league, not Busch League)

10:50 Students and teachers communicate over this. RIP Blackboard. (College professors are all high fiving each other right now)

10:51 Whole curriculum in one app. All organized. Need some materials buy from iTunes.

10:53: Universities are using iTunes around the world already. Now K-12 can sign up for iTunes U as well.

10:55: Phil is back: Repeats that Apple exists between Liberal Arts and Technology and its roots in Education go all the way back to the Apple II.

10:56 That’s it, signing off.

Check out our full coverage of Apple’s education event and additional assets:

ARTICLELiveblog: Apple’s education-focuse media event in NYC ARTICLEUpdate on business metrics from Apple’s education event ARTICLEApple releases iBooks 2, a brand new textbook experience for iPad ARTICLEApple to price new iBook textbooks at $14.99 or less ARTICLEApple announces iBooks Author, free Mac app for authoring textbooks ARTICLEApple launches iTunes U, free iOS app for educators to take courses anywhere ARTICLEApple releases iTunes 10.5.3 with support for textbook syncing to iPad ARTICLEHeartwarming clip of teachers and students Apple played at the presser ARTICLEAn overview of publishing and distribution for iBooks Author VIDEOGallery of elements that can be used for interactive iBooks VIDEOThe iBooks Textbooks promo PRApple reinvents textbooks with iBooks 2 for iPad PRApple unveils all-new iTunes U app for iPad, iPhone & iPod touch SUPPORTiBooks Author: Best practices for using 3D models SUPPORTiBooks Author: Use iPad-safe fonts when authoring books SUPPORTiBooks Author – How to make your iBooks accessible SUPPORTiBooks Author – Add video to your iBooks SUPPORTiBooks Author – Publishing and distribution FAQ CHANGELOGiTunes 10.5.3 for Mac CHANGELOGiTunes 10.5.3 for Windows (64 bit) APP STOREiBooks Textbooks section in iTunes APP STOREiTunes U for iPhone, iPod touch and iPad APP STOREiBooks 2 for iPhone, iPod touch and iPad APP STOREiBooks Author for Mac