Hi Sara,
Unfortunately, no. There's not a lot of interest in this from Canvas, and we're still slogging through how to do it at an institutional policy level.
We have started to conclude whole quarters, where previously we left course concludes at the discretion of the instructors. Students can still access the materials, but can't participate (e.g. post to discussions). There's a tension we haven't quite resolved...
- On the one hand, privacy of the students and reducing the records we keep on hand, as well as storage considerations.
- On the other, so many materials are only available to students via the LMS. As a community college, many of our students don't complete their programs on a tightly scripted schedule (e.g. 2-3 years), so I hesitate to cut off access to their past course materials prematurely. *
I still think it's a valid conversation, and saw an Instcon presentation a few years ago about how one college is anonymizing student identities when they do research. That feels like a piece of the puzzle for maintaining the value of the data for supporting learning analytics, but protecting student records. I just haven't put the rest of the pieces together. 
* Yeah, I'm they guy with a textbook from my Socio-technical Systems course on the shelf behind me... and I still reference it.
Marc
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