Actually there is. I refer to you Google Classroom (using Google Apps for Education). http://classroom.google.com/
This provides interactive access to the students up to 24 hours every day. The teacher gives feedback and the student receives it immediately, regardless of whether or not they are in class at the time. With Hangouts a "sick" student can be in class, and participate without having to infect classmates with Virus of the year. And so on.
What is a waste of money, is spending it on is old style industrial education items like "Chalk and blackboards", 35 MM movies/VHS', and Books that are obsoleted every time Pearson and Congress comes up with the latest greatest version of Education (e,g. NCLB, Common Core). Imagine being able to get Creative Commons Licensed material/media/books that are Free and edited on the fly to conform to every Jurisdiction's lame-ass requirements, which ultimately will leave politics out of education (once it shows how silly it a lot of it really is). Tie in Khan Academy, and MIT courseware and ..... and you have EDUCATION that goes through PhD level work available ... for free ... for anyone.
I foresee the time when we dump Industrial Education and start providing kids all the education they can handle at any age and quit trying to pigeon hole them into "age" segregated classes, and start putting them into online sessions with educational peers.
And at $200 ea. Chromebooks offer even the lowest income people a chance to own technology that can help bridge the education gap. $200 buys one, maybe two textbooks these days, something school districts have to do every year or two. Are they as capable as a Laptop? Probably not, but they are usable for 85% of what kids need in school.
To be honest, I don't know whether or not to feel sorry for your kids, or you. Here we live in an age where the world is at your fingertips and you spouting off like it is a pure scam. Kind of hypocritical of you being on /. (using a computer and all) don't you think?