As a general rule, I cut sugar in half (sometimes 2/3) from recipes and still have a good tasting snack!
That said, you can substitute honey in equal amounts with sugar in recipes, but be aware that you will want to reduce the liquid amount just a tad. Generally, reduce liquid by 1/4 cup for every cup of honey used. You'll also want to add an extra 1/2 tsp of baking soda for every cup of honey to counteract the increased acidity.
I wouldn't recommend artificial sweeteners. There's tons of information out there about the side effects of them. Perhaps learning the negative effects could be part of her research for her class project?