I have learned that some school libraries/learning resource centers are lending Kindles with specific titles on them to their students. This seems counter-intuitive at first and may not scale up well, but it can be a tidy solution in specific environments. The libraries buy the Kindles and register the library--not a person--as the owner of all of them. They can load each Kindle with hundreds of the classics that students "have to" read, because those are mostly public domain and can be obtained free from Amazon as well as Project Gutenberg. Curriculum-specific titles can be purchased and added to the library OPAC. And they can be loaded onto a specific Kindle quite quickly, once you are familiar with the Amazon Kindle Management page.
I've added a basic description of this idea to Resources page of this site and to the Staff Tools page.