As a fifth grade teacher, I have been recommending this calculator to my students and parents and use this calculator wtih students in my classroom.
It has the features, especially the fractions features, needed for grades 4 - 8. It also is a very durable calculator and holds up well when taken care of and used with the cover with everyday wear and tear.
I personally bought this same calculator for both my son and daughter when they reached 5th grade and they not only used it in fifth grade and throughout middle school, but also used it in high school and on their ACTs even though they had a much more expensive graphing calculator. Both calculators survived years of use and are now being used in my classroom.
You can find some cheaper calculators for students at this level, but they won't do all the things this calculator does. It is worth a few dollars more.