I'm not sure what Office and OneNote has to do with this?
This looks like it is going to be a subscription service, similar to HomeworkHelper or eLibrary, where for a monthly fee the student has access to closed databases normally available only in a library, ie full text newspaper and magazine articles, encyclopedias, etc.
If your student is old enough to need Office/OneNote, MS does offer the Student & Teacher Edition (similar to Office Basic) at a very good price, and OneNote has always been a $99 add-on, unless you got it with Office Premier or whatever its called
KIM, this online reference is geared to Middle-High School students, and would more than likely be paid for by their parents.