I reached out to the librarians around the diocese to ask if they have dealt with a similar situation. The response was overwhelmingly that the other school libraries in the area kept subscriptions to online issues but did not keep paper copies in most cases; three out of four of them didn't get NatGeo in paper form at all. It was suggested that we might want to dispense with our paper subscription, which I agree would definitely be the easiest option, but since the principal has asked to find a way to preserve this collection, no dice.
The librarian over at the Our Lady of Grace school in Greensboro suggested that in previous libraries she'd worked, periodical collections were preserved in magazine binders:
This would be a work-intensive option and would also involve a pretty hefty financial investment (Demco quotes $16.49 per binder, but I haven't done any thorough research on it yet), but it would definitely help the older issues stay preserved and more easily readable without being damaged. I'm not super optimistic that the school's budget will be put in that direction, though.
Beyond that, I'll have to keep trying to figure out what else we could do. Well, at least I have some options to present!
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