Get the most repeated post contents from a search?

The problem with your approach is that post’s content pretty much ignored in WordPress query architecture. It is meant to be textual information, as opposed to technical meta information.

You have several options:

  1. Try to modify raw SQL of query request through filters, such as posts_where.

  2. Assign school name to custom field and use custom fields parameters in query (much enhanced in upcoming 3.1 version of WP).

  3. As per hakre’s suggestion create custom taxonomy and assign schools to posts as its terms.