Some interesting discussion in r/k12sysadmin. I think you could have students “watch it on their own” but have folks without accounts watch it with those with accounts – legally, when does it turn from personal to non-personal? One friend over? 12 friends over? 100 friends over? 1,000 friends over and charging them an admission fee?
There’s also some discussion in that thread about getting licences from the studios. You may consider that route, and you also may consider the route of contacting FIRST to see if they’ve encouraged this or have a connection at the studio you can contact with this question.
As a general rule of thumb, don’t accept any legal advice on Chief.