I've done lots of googling and the only thing I find relates to, I believe, Hyper-V server and not client Hyper-V.
The scenario is that we have a domain here at the college and we are trying to use client Hyper-V on the win8 pro machines. The students are part of the Hyper-V Administrators group and we tried using Authorization Manager, but nothing has worked to allow students to run Hyper-V Manager without being an Administrator or having an administrator use their credentials to run Hyper-V Manager with elevated permissions. The administrator walking around running Hyper-V Manager with elevated privileges is not really convenient, so what we are looking for is a way to control the ability of students to run Hyper-V Manager and load their Win2012r2 VMs and create new VMs without the administrator's credentials and without making the students administrators. The students very specifically only need administrative privileges for client Hyper-V or for client Hyper-V not to require administrative privileges.
Best Answer
What you're looking for is the Authorization Manager MMC. Basically, this article tells you everything, but I'll paraphrase for posterity purposes.
This will allow you to have a local set of authorizations for administrating specific roles. Namely, the "Hyper V Services" administrators group can be delegated to specific users (tested) or -most likely- groups (i.e. MyStudents, MyStaff).
-You must first add the snap-in "Authorization Manager" in the MMC menu.
-Once this is done, authorization credentials are pulled from a local XML file located in %programdata%\Microsoft\Windows\HyperV folder.
-From the snap-in, Go to Authorization Manager\InitialStore.xml\HyperV Service\Role Assignments\Administrators
-Add users or groups that you want the correct access to Hyper V Services
-High five everybody