Office 365 classroom

Hello Simon Bore,

Unfortunately no, I do not think what you are looking to do is possible. With how the O365 licensing model works, each subscription is logged in and tied to that user account, which associates that installation with the username/login. If you were really married to the idea, you could chain change the licensing names to match the students, but that seems like way to much work to me.

What probably would be best would be to take the 22 licenses that will be used for the school, and create generic school based names for them (so that the principals name is not listed everywhere). Something like "Hartford Computer 1" "Hartford Computer 2" etc (if your school was named Hartford. You should be able to modify the UserPrincipalNames/logon names associated with the accounts:
https://support.office.com/en-us/article/change-a-user-name-and-email-address-in-office-365-fb5ac074-e203-4e1f-9843-b9d1a3e03297

As far as the OneDrive question, the same holds true, but I think your idea is great! To really provide a better means to allow the kids to take their knowledge/retain it, OneDrive would work best. You dont want to have to go through and purge/remove/setup onedrive over and over and over again as the client. Specifically it would get tedious quick if you had to setup onedrive with them every singe time in the client, only to remove and setup again the next time.

I would therefore use the online version. and combine that with the free Onedrive that comes with 5gb of space. - https://onedrive.live.com/about/en-us/plans/

Include in the first day setup/use, having the students register for a free onedrive account. Bookmark the Onedrive login page onto whatever web browser they are using, and encourage them to save their work there. Then when they leave, you are just having to wipe internet history, not the whole application and data. 

Hope this helps!

Adam