I'm helping with a local high school class myself.
First, I gave them a $50 Zizzle and some pointers on upgrading the buttons. This was a nice, easy intro.
Second, I picked up a home edition Fireball for $100. They tinkered with it for a bit, then I picked it up during the summer to rebuild the controls and power supply. You can search for my thread with "fireball arduino." After some mistakes and wrong turns on my part, the system is flipping under microcontroller control, and the kids will pick it up from there(art retheme, switches, controlling the multi-color LEDs, etc).
I also gave them some older parts just to hook up to plywood. They had some fun writing control code for flippers and pop bumpers. I just picked up 24V and 28V parts from ebay to experiment on.
If the kids don't have an existing controller infrastructure already being taught(this school already uses Arduinos), you could just point them at the Open Pinball Project and the Mission Pinball Framework. For hardware, find someone to donate a populated playfield. I personally like the 70-early 80s Williams games. EM or SS doesn't really matter if you are going to build a new controller for it anyway. You'll likely pay less for a non-playing el cheapo project than you would a pile of new parts from Pinball Life or Marco. Someone might even be able to get a tax break for a donation of junk, so check with the school to see how to get that done.