Which one were you questioning?
- In Orwell's novel "1984" the TV screens in people's homes, which the state required you to have switched on, were monitoring devices.
- Fitbits record a history of your heart rate as well as step counts and other metrics. The original post states that "their fitness activity will be monitored at all times", which implies that this school will have access to the data. So yes, they plan to monitor their students' heart rates.
Given how very controlling this institution is with its students I might note that heart rate data can be used to monitor for other activities which the institution forbids, such as drinking and sexual activity. I don't know how they intend to use the data, but they could be a lot creepier with it than just "promoting healthy living" (which the institute demanding, and demanding the right to monitor, is pretty damned creepy already), and given this institution's record generally I wouldn't rule that out.
But then Oral Roberts' followers were always a mystery to me. After all, this is a man who tried to boost one of his fundraising campaigns by claiming, repeatedly, that God had told him that if he did not reach his target he would be "called home", and it always puzzled me that his followers didn't seem to find it just a little bit blasphemous that he was accusing the Almighty of demanding money with menaces...