The New York Times reports of a new feature that PayPal is currently testing: PayPal Student Account. Basically parents can add up to four sub-accounts and transfer money to those accounts. The kids then can spend that money on any website that accepts PayPal or they can get a MasterCard.
PayPal has not yet distributed more information or a public launch date.
Sounds pretty cool to me. And for eBay this is a great way to tie new customers.