Yesterday, Apple updated its terms and conditions to allow schools to create accounts for children once they've obtained 'verifiable parental consent.'
“This iTunes Service is only available for individuals age 13 years or older, unless you are under 13 years old and your Apple ID was provided to you as a result of a request by an approved educational institution.”
MacWorld notes that the change is matched by new MDM (Mobile Device Management) options that will allow teachers to control app setup, access to documents or printing, and account changes. They will also be able to prevent children from switching apps during lesson time.
The new MDM protocoal will launch as part of iOS 7.