Yes. You can disable the student blog advertisements with one purchase for your admin blog.
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I think I am on to the answer myself. Maybe someone could still elaborate for me?
It seems if I sign up for a single supporter blog I can then disable the adds on my 30 students' blogs attached to my admin blog. This way I do not need to purchase 30 supporter blogs for my students as well as my own supporter blog.
Correct???
toby