Apple has been swift to confirm the existence of a cheap student-aimed iMac that has been doing the fanboy rumour rounds - giving specification details on the 21.5-inch iMac on its support pages.

The machine, which doesn't yet have a price but is rumoured to be sub-$1000, packs a previous-generation dual-core Intel Core i3 with 3MB on-chip shared L3 cache, has 2GB of 1333MHz DDR3 memory, 250GB of hard drive storage space, and the AMD Radeon HD 6750M graphics processor with 256MB of dedicated memory.

Apple already sells a 21.5-inch iMac complete with Thunderbolt technology on board, but this lower spec'd machine should come in at less than its £999 starting price and is aimed squarely at students (not aimed at square students).

Although how any student will be able to afford even an actual apple, as opposed to an Apple computer, after the hike in admission fees is anybody's guess.

We'll let you know if Apple goes official with the price of the "budget" iMac.