My first racer was a Challenge car built with middle/ high school aged home schooled students. Placed 13th out of 77 cars at the Challenge that year- don't underestimate them!
There may be some cultural differences here. American older racer culture vs Korean young non-racer culture. Try to key into what interests THEM, not you. It is possible that the "ricer" boy racer approach is more meaningful to them than to the average poster on this board. My first racer was a "riced" Subaru SVX.
I would not rule out the "useless" aero type changes, if they are meaningful to the students. You've got to give them ownership of the project.
One note: if they are anything like American kids, they will have VERY short attention spans. My student projects have been marred by loss of interest. Don't bite off more than THEY can chew. Keep the mods incredibly simple, and able to be accomplished in a day.
I'd try to keep the car running. Do a mod in the morning, that can be test driven that afternoon. Get them involved in stuff they can see immediate results. If you don't do this, you may be building the car and they may not even be watching.
Weigh the car in the AM. Run a 1/4 mile pass. Record the time. Remove weight. Re-weigh the car. Run another 1/4 mile pass. Show the results. Go home. All in a day. Then consider your next mod.
I'm excited to see young student projects! Good luck!!