Above all, give them enough time and freedom from intervention to do a reasonably thorough study. If it seems that they need more time, think seriously about giving it to them. Finally, you might be wondering what to do with your mice after the students are finished with them. Some students will probably want to adopt them as pets, and that's fine as long as you make sure to get permission from parents. Alternatively, you might know someone with a large pet snake.
Many snakes only eat live food, and pet store mice are a common food item.
Of course, you could always keep them as pets yourself, or keep them in school as class mascots. Remember, however, that mice require lots of care, especially frequent cage cleaning. And unless you want lots more mice, do not house males and females together.