Safety is not guaranteed in this life, no matter who we are. We can either worry about the "what ifs" in hopes to prepare for/avoid harm (and hopefully lengthen our lifespan), or we can enjoy the moments as they pass.
You do not mention what level of school it is. Middle school? High school? College/University? They are all completely different environments. Even from college to college it is different. So there's no easy answer to the question - there are just too many variables.
So I will say this about my own experience: I work at a University, and am now fully out (but pre-top surgery, so I am NOT stealth!). The increased risk of someone being upset by my gender identity is miniscule compared to the sheer joy that I feel being able to move through the world in my true gender. In the few short months I have been out at work (which was my last place to come out to), my confidence has skyrocketed and I am embracing life, living it, and enjoying the ride (even when it is bumpy).
The sappy soundbites you hear about people "beginning to live their life..." and "the world world opening up with possibility"? That's been my experience through and through. But I never would have known it could be had I not jumped in and experienced it first hand.
That is my experience. In my city (a very progressive one). In my school (a public University). And my story would be different if any of those variables changed.
I wish you luck finding your way!
