hmmmm.......It would seem to me...that for a high school program aimed at Teaching puppetry and one that's on a budget, it would make sense for the students to build their own puppets and learn to experiment with what works and doesn't work for them.
Going through and learning basics of each style of puppetry would be useful to, and in that way the individual student can learn their own craft.
Lets also not forget that Puppetry is about Performance and not how pretty the puppet is. I would say it would be ideal to start of trying out table-top puppetry made with paper and found objects focusing on performance and characterization, which is what theatre students should learn anyway.
Example, Here is a strong story and performance done with puppets made of masking tape and newspaper
http://www.youtube.com/watch?v=o5ecIRz8AFQ