Thank you everyone for your suggestions. (and one last question)
At this point, it works well enough to just set up a disk image for each student to save their FCP X library into. When they eject it at the end of their work session, FCP X won’t be able to see their library the next time it’s launched. Along the same lines, they can instead save their FCP X library into their own external storage device when setting up a new project. I will put a reminder on the desktop background for students to do this when beginning a new project.
Is there a way to have FCP X automatically close out of all libraries when quitting? This way, when relaunched, it will prompt the user to either open an existing library or create a new one. I think this would really help clue people in to where their project is going to be saved.
Thanks again!
Sasha