Login for my students

I am a working musician, music student and teacher.
Previously i’ve been working with Adobe Flash, Dreamweaver and Hype 2.
I’ve chosen to use WordPress for a new site containing my personal CV and portfolio. For this i will be using posts and static pages as any with any other blog. That should work for me. This is where it becomes tricky though:

I would like to create a login area for each of my piano students (username / password) on the header or the footer of my site. When logging in i would like for them to see a blogfeed containing two categories:
1) Dedicated and personal posts (home work, media, sheet music etc.)
2) Shared post with general messages for all of them (“next thursday is cancelled” etc.)

Then after each private lesson i’ll post an update summing up what we have been working on and attaching video, audio or sheet music.

Can anybody please point me in the right direction of how one would go about working this out in the most straight-ahead manner?

Kind regards
Steffen