The only entity that will generate money off this is StudentConnect. The school will not make money off this. All this information is contained on the StudentConnect website.
Also, it is up to the school with how they implement any program. StudentConnect is an optional program so unless that changes, that will always be optional. THE SCHOOL WILL HAVE TO AGREE TO IT BEING OPTIONAL!
Always remember liability for a child's safety while at school falls onto the school, not the company. Therefore there is no risk to StudentConnect. Even if there was a lawsuit against the school, it would take years before it is even settled. If this is a big issue I'm sure a state's supreme court will rule on it and set case law for all to follow.
Funding was already covered here. Cost efficiency is achieved here by implementing products already developed by EarthSearch. Also, you need to know the deals between the advertisers and StudentConnect. I'm sure more details will be available in the near future since the time frame is November, as stated in the PR.
GL $ECDC
Scared money don't make money!