What you are asking for seems reasonable.
The best methods would be to use any of a number of available resources on the MT.
a. radius server/userman
b. hotspot functionality
https://www.youtube.com/watch?v=QnSuS88Np_s
He touches upon some of the limitations, day/time schedule up time, total download, rate limiting. all kinds of useful features.
At the end of the day, the main difference here is that the teachers can make up their own password to use, that they dont have to write down, so less likely that students will see it written anywhere.
I am assuming this is mainly for cell phone usage????
What I dont know not having explored this userman/hotspot functionality is whether or not, either at userman or radius server or hotspot level you can also put in the mac addresses of the cell phones used by the teachers so that any other mac addresseses would also be blocked.
Okay watched this one too and there is a hotspot feature of the # of mac addresses per connection!!
https://www.youtube.com/watch?v=bH_6MS9T_n4