I have the FP Metropolitan Tote and it's great for work/travel so I think it would make a good school bag. There are two "hidden" compartments on the top that are pretty cool. The pebbled leather is very durable and the shorter strap allows shoulder carry pretty easily.
I also saw some new Men's totes at the outlet last weekend. I want to say they are called Metropolitan Totes, too, but if you have a
Coach Men's outlet close, you might want to check them out. They had them in Yellow, Blue, and Black Cherry. They were really nice. They were something like $259. I'm thinking hard about going to pick one up tomorrow. I couldn't decide between Yellow or Black Cherry.