As noted in the posts above, High School Rps can be great if you make them so. 

I'm running one myself(originally someone else's, but they handed it down to me), and it's going strong. It's a Demigod/demigoddess roleplay set in an academy for them. It has all the familiar elements of a High School/College school rp, but my twist is that there's a kidnapping plot. 

My point for mentioning this is simply that, as it was already pointed out, if you can add a nice little twist in the school rp that you're doing, then you can make it so much fun for not only yourself, but for your players as well. Of course, if the Slice of Life scene isn't your cup of tea, then obviously you're going to have a problem with [i]any[/i] school rp, regardless if it's high school, college, or Slice of Life in general.