Thanks for the advice. Can you give some specific steps on how to "monitor your child's SSN for activity"? How would I go about doing this?
You can also apply to put a security freeze on your child's SSN. State by state laws and application process here: http://consumersunion.org/research/security-freeze/
And then there's the myriad of companies who can give you protection for a monthly fee:
AllClearID: https://www.allclearid.com/
LifeLock Junior: http://www.safety4yourkids.com
Also, Experian has a monitoring service as well specifically for kids: http://www.familysecure.com/
Hope this helps.