Yeah, if it’s interior I would suggest some type of thicker cold press board. Look for Art Board, Masonite Panels, or Watercolor Boards / Panels at you local art supply store (or even on line if you need). Be aware that these boards might not be the cheapest though, especially at the size you want. Definitely look for low acid content. Papers with more acid in them will turn a yellow hue and deteriorate quicker (even though I’m not sure how long these are meant to hang in the school). If they will mostly only be there for a few years, I wouldn’t worry about the yellowing as much. Some brands that I like are Strathmore, Arches & Windsor & Newton. Although these are high quality materials and might be over the budget you were looking for.
For sealant I would recommend 3-4 light coats of Krylon GLOSS UV-Resistant Acrylic Coating. Be careful when spraying though as the paint is water based and could be damaged. I would do light mists of spray and build it up. Also be careful that the tip on the spray can doesn’t get clogged at all. I used to clean the tip off pretty often with some rubbing alcohol to make sure that none of the fixative was clogging the sprayer.