iTunes U for iPad Retools the Learning Experience: The all-new iTunes U app lets teachers create and manage courses including essential components such as lectures, assignments, books, quizzes and syllabuses and offer them to millions of iOS users around the world.
Courses are created via the iTunes U Course Manager, a web-based tool that allows teachers to build a course that includes a syllabus, handouts, quizzes, and other items. Course materials are hosted by Apple and available to anyone taking the course -- by default, courses are open and available to anyone, though it appears schools can restrict their courses to only their students.