iPad 2: Are Students Buying It?

Friday marked the release of the iPad 2 and, according to Geek.com, while only 300,000 original iPads were sold within the first weekend of its release, half a million iPad 2s sold within the first day. However, despite the new features and faster speed, most students and recent graduates that WalletPop spoke to are not willing to fork over $500 for the new tech toy.

The lowest priced iPad 2 costs $500, but ranges up to $830 depending on size and WiFi vs. 3G capabilities. According to the Washington Post, textbooks range from $700 to $1,100 annually. That means that most students purchasing an iPad 2 will find themselves spending more on their new gadget than they do on books for an entire semester.