Example sentences
xué学xiào校zài在nǎ哪ér儿？
Where is the school?
wǒ我qù去xué学xiào校。
I go to school.
About this word
学 is to learn and 校 is the institution where it happens, so 学校 is literally a "learning school". 校 began as a word for checking or collating and picked up the sense of a place of teaching along the way. The modern compound is transparent either way. 学 leads a whole family: 学生, 学习, 学院 (college), 大学 (university), 小学 (primary school). 学校 is the general word and covers the whole range, from a village primary school to a university.
The story behind the character
学
The traditional 學 is a whole scene: 爻 (counting rods for divination) on top, two hands fiddling with them, and 子 (a child) below. A kid working the rods with his hands. That's the oldest picture of learning. Xu Shen wrote 学, 觉悟也: "to awaken."
校
校 is 木, wood, with 交 supplying the sound. Xu Shen glossed it as 木囚也, a wooden restraint, the kind of wooden frame that held a prisoner. Old texts use it for schools as well: the Mencius says 夏曰校, in the Xia dynasty the school was called 校. Wood on the left, sound on the right.