So I ran some numbers regarding the school, using the expenditure rules from Covenants.
Students that reside at the school 2 seasons per year will need to be charge extra for room and board, including the impact of servants and teamsters. That would be about 0.4 pound per student per season. That means that the actual cost for a year's tuition to the school would be 1 pound  0.2 for the teaching and 0.8 for room and board. I based myself on what it would cost to have only students (dependents without wage) living at a covenant.
Now, based on that, here's the summary of the school expenditures:

Inhabitants
[list][*]Christophoros (a companion): 3 points of inhabitants + 1 point to consider his aboveaverage living conditions  1 Senior teacher (treated as book specialist): 2 points of inhabitants
 3 Junior teachers (treated as regular specialists): 6 points of inhabitants
 45 Students (dependents without wage), present only half the year: 22.5 points of inhabitants
 7 Servants: 7 points of inhabitants
 4 Teamsters: 4 points of inhabitants

Total 45.5 points
[/:m]
[]Expenditures  Buildings: 4.6 pounds
 Consumables: 9.2 pounds
 Provisions: 23 pounds
 Wages: 4.6 pounds
 Writing materials: 1 pound
 Pound of Enumarus: 1 pound

Total 43.4 pounds
[/:m]
[]Income  Students' tuition (0.2 pound per student): 9 pounds
 Students' room and board (0.8 pound per student): 36 pounds

Total 45 pounds
[/*:m][/list:u]
So, with 45 students, the school would register a slight profit of 1.6 pound per year, which would slowly pay for the books being advanced by the covenant. As the number of students rises, the school would be able to add more teachers and/or assistants as well as run a slightly larger profit.