Thanks Mary for showing me how to find the block permissions for the People block on the Front page in 2.0.
With that piece I think I finally got the other problem worked out.
I set user:viewdetails and site:viewparticipants to allow for Authenticated users. That allowed all users to see all profiles from the Front page. Then I prevented those with the Front page role of students or parents from seeing the People block on the Front page. That effectively prevented them from seeing the profiles but allowed the faculty who were assigned the role of non-editing teachers on the Front page to see profiles.