They are very similar, and often used interchangeably. "for" can be used as a substitution for the verb, which becomes implied, to simplify and shorten the sentence. For example, you could say "It is time for tea", which is a simpler way of saying "It is time to (drink, make, have) tea". You could say "It is time for school", meaning "It is time to (start, go to) school"

I think they are the same