I would consider creating two Facebook pages. Make one a personal page that is just for family and friends, and make the other for school/students. Then when a student tries to friend you on your personal account, you can reject them, but then invite them on your teacher account.
That is what my brother does- he has 2 accounts- one for family and friends and the other for students and past students- he has over 1000 past and current students on his facebook page. This summer alone he has been to 6 past students weddings!
I agree with them! I have two separate Facebook accounts. For the longest time, students were asking if they could be my friend. I told them it would be okay after they graduate. However, that could still raise issues since the former students could share the info on my personal page with current students. That's why I created a separate account just for students, former and current (a few parents as well).
I don't update that one as often; it's more for them than it is for me. I do teach in a small school so I'm not the only teacher who is friends with them (even the pastors in the church are their friends), but I believe I'm the only one who created a separate account. Former students tell me what they have to read for summer assignments. I update my status with books that I have finished reading (haha, hopefully they can see that reading can be done for fun too~). I joke around especially with former students because we have close relationships, so close that I will be inviting them to my wedding a few years down the road.
The separate account also protects them. If I post pictures of my classes or students from field trips, only they can see it. I made them all "Friends Only," which means their friends can't see those pictures on their page. When a parent liked the picture, she reposted it on her wall.
I
never friend a student. I only accept if they friend me. Just like I don't want students knowing my personal business, if they don't want me to know theirs, that's fine.
I am a younger teacher so maybe that's why I think it's okay. I have a separate email account for parents and students as well. Students have sent me messages via Facebook asking me about help for summer assignments and I'm okay with that. Instead of Googling an answer or leaving it blank, why not go straight to the source if it's available?
My students have told me that they like that I can talk to them as a friend when we're outside for dismissal or on a field trip. They know that I'm their teacher and that we cannot be buddy-buddy in the classroom. But if we're on the bus going on a trip, I don't mind playing games with them or chatting about silly things. They trust me to tell me about things going on in their homes that they don't necessarily tell their friends. I think it's okay to have a separate account to be friends with students as long as you know where to draw the line.