IMHO - I know I am going to get beatup for this but…
I am a cradle Catholic, I grew up in India so was exposed to both these festivals. So I see nothing wrong in participating and learning about other cultures. I am assuming this is only to teach kids about different religions. Not making you follow them.
Eid is a Muslim festival. The Muslims fast for 40 days from dawn to dusk (eating only before sunrise and after sunset) and at the end of the 40 days they celebrate. It has its origin with Mohamad having had to go hungry in the desert.
Diwali is a Hindu festival of lights. The Hindus exchange sweets, dryfruit, … and they light firecrackers and oil lamps. (oh no if this was forbidden, we would have had to throw out all those sweets that our Hindu neighbours sent us at Diwali and hopefully they did not throw out the Christmas sweets we sent them)
Also both these days were public holidays for us, so…
In fact we did not have March break, but instead 3 weeks Diwali holidays from school in Oct ( and I went to a Catholic school and university)
Right now my son is not in a catholic school ( will be switching in 2 years, long story.). However I have made it a point to educate him about the various religions and cultures of the world. Of course, he also knows a lot about being Catholic and our own religion.