A lot has been said..
Yet I still cannot understand the safety aspect of this whole homing business. Chaps, the Great War is over! We are not flying Lancasters anymore eventhough I am sure they had better navigational solutions!
Teach your students some basic VOR navigation, let them buy a handheld GPS, even an ordinary PDA with a TomTom moving map will do. Even more, it will prevent you getting lost in the first place.
This homing is a thing of the past.