You can decide who can edit the page by selecting the Users allowed to edit this page drop down menu [1]. Options include only teachers, teachers and students, or anyone. The Anyone option only applies to users who are enrolled in the course.
You can add the page to the student to-do list by selecting the Add to student to-do checkbox [2]. When you add a page to the student to-do, the to-do displays in the student's to-do list as well as the in the course calendar and students' course sidebar To Do list.
You can also notify users that content has changed by selecting the Notify users that this content has changed checkbox [3].