I wouldn't care if a tag was installed in a school ID that a student is required to carry. It'd probably help keep the student where they were supposed to be. Sure, there are ways around "the system" but for general effect I'd think it'd be good.
It sounds like a good idea to keep the kids safe. But they should make the parents sign an agreement, and the tracking should only be used when the kid is lost or missing. If you use it any other time, it's a gigantic invasion of privacy, in my opinion.
I don't know. While kids still eat the food and live under the parents' roof, if parents choose to they should have the right to invade the privacy (a.k.a. know where their kids are at any time) with no restrictions, chip or no chip.