The Vermont College of Fine Arts produces a literary magazine called Hunger Mountain, which now features a section on children's and young adult literature. You can read the journal online. The current issue contains a speech by Katherine Paterson (The Bridge to Terabithia)—an amazing story about a fan letter from an remote spot in the world. You'll also find interviews, articles on the writing process, fiction, poetry—and that's just the kids & YA area. I'm looking forward to reading the whole journal.
Thanks to Jill Corcoran, a literary agent and writer who blogs at Jill Corcoran Books, for pointing the way to Hunger Mountain.