I have written a magical school series, but if you mean a ttrpg-style adventurer's academy, no. It doesn't make sense and it's not conducive to good storytelling or worldbuilding in novels. It's a style of world designed to facilitate play; if you're not running a game or building a world for games to be played in, there's no point to it. It's actively detrimental.
"But Derin, novels in these worlds exist! They're a major industry!" Yeah, and most of them exist not to be good stories in their own right but to flesh out game worlds and play modules for gamers. As stories, they suck. They universally suck. Because being good stories on their own isn't their purpose.
I don't write for ttrpgs, so no, I wouldn't write on this premise. I also wouldn't hold a game with this premise, not because there's anything wrong with it (Fantasy High is a lot of fun), but because I don't want to run a game in a high school.