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Earlier this week, we told you Apple gave developers the ability to allow educational institutions to get a discount on volume App Store purchases. At the time, Apple hadn't yet open the floodgates on the volume pricing program, but they have finally explained how this volume licensing program will work.

Educational institutions that wish to purchase twenty or more copies of the same program will be able to get a 50% discount at the App Store iPad, iPhone, and iPod touch applications. 

According to Apple's volume purchasing website, the volume licensing is being done by vouchers that can be purchased in $100, $500, $1,000, $5,000, and $10,000 denominations. These vouchers are mailed out the authorized educational purchaser to be distributed for redemption in the App Store. When someone needs to purchase an application, the authorized purchaser may login to the website, search for the application they wish to purchase, then denote the quantity (up to the voucher amount). When purchased, the authorized purchaser will receive App Store redemption codes for the application that they can pass around to the students (or other end user) to redeem in iTunes and install on their iOS device.

"Institutions can designate one or more 'program facilitators' to redeem Volume Vouchers and purchase apps through the App Store Volume Purchase Program. The Program Facilitators can be anyone chosen by the Authorized Purchaser--a dean, a professor, a school principal, or a teacher, for example--or the Authorized Purchaser may also fulfill this role," according to Apple.

Apple has created a Volume Purchase Program portal for interested institutions to manage and redeem vouchers. There is also a FAQ section that can answer many questions associated with this new program.

via MacRumors