Student Generated e-Content and Records Management

I was wondering if any classroom 2.0 members have implemented records management policies and procedures to handle student generated digital content? At the end of this past school year a colleague of mine was asked by parents to transfer over all of their kids e-content (she had developed a classroom site / wiki and had them participate / contribute through writing projects, etc.), obviously she was not prepared for this and it ended up being a lot more work than anyone had planned for come year end. I blogged about a general approach to plan for something like this, but I know I'm missing quite a but and would like your input. Has anyone encountered this situation before? Do you have a records management policy to deal with student generated content?