That would actually be illegal. Courts have consistently ruled that forcing students to participate in the Pledge of Allegiance violates their First Amendment speech rights.

Moving on from that ...

I agree with you that loyalty oaths feel creepy, and I would add another observation. The Pledge, as it stands now with the "under God" innovation, enforces religious beliefs — or at least a parroting of religious beliefs.

Americans have sued many times over this issue, observing correctly in my view that government institutions don't have the right to impose religious practice. The Supreme Court twisted itself up in knots over the issue, basically deciding that since the Pledge is not sectarian it's OK. That ignores the interests of people like me, a rising percentage of the American population, who want nothing to do with any kind of religion and who are also entitled to First Amendment protection.

I never stand for or recite the Pledge. Even if I didn't think it was a creepy loyalty oath, I still would not participate in any ritual that implies that God is real or important, or that states that the people of the United States are in some way "under" or subservient to God.

And I would deeply resent any government action to encourage me (or subtly bully me) to do that.

When I raised a child, I lived in Canada, which doesn't practice national loyalty oaths or religious oaths, but if I had a kid in an American school, the enforced religious nature alone of the Pledge of Allegiance would make me a thorn in the side of my child's school administrators.