M.L.
When you go to a beauty school, you're saying you're willing to be a guinea pig. That's why the school accepts customers. My understanding (I haven't had a beauty school cut for years) is that there is an instructor guiding at all times, but you're not going to get as expert a cut as a pro would give you.
However, if you're really adventurous or really broke, think about giving it a try. Your hair might be a really good challenge for someone! Just think of the good you'd be doing.... :^D
P.S. If it were me, I'd ask around in my neighborhood about the beauty school - to find out if there are any other guinea pigs near me and what they've thought of their cuts.