A list of values or LOV is a common value that is used in different data entry screens and is shown in a dropdown list for selection. Different schools in different countries might need to adjust these values based on their requirements so the system allows an administrator to add/edit these values.
To add School Classification, navigate to:

Settings > List of Values > School Classification
There are three school classifications that are created as system default that cannot be edited or deleted.
To create a new school classification, click '+ Add School Classification'.
Fill in the name of the School Classification and click Submit.
Note: The system shows the name of the person who created a record and also the name and date when a record was updated.
If a value is assigned to a record, that value cannot be deleted. Only the name can be edited.