I grew up in a house on a lot that backed up to our ES. I liked always being able to walk to school or hanging out on the playground and basketball courts any time I wanted, even well into high school. While our properties were adjoining, there was enough distance between our house and the school that noise was not a problem. Occasionally I was jealous of the kids who got to take a bus, which seemed cool, but it was also nice not to have to worry about missing the bus.
The only “problem” I remember is that some kids would cut through our front yard walking home after school, even though there was a sidewalk in front of our house, and my grandmother, who was living with us, would yell at kids to use the sidewalk. That would embarrass me and I’d beg her not to say anything, but it wasn’t how she was raised and she felt it was disrespectful. The difference back then, of course, was that the kids actually did as asked!