The TeX Gyre project describes Schola as:
TeX Gyre Schola is based on the URW Century Schoolbook L kindly released by URW++ Design and Development Inc. under GFL (independently of the GPL release accompanying Ghostscript). The Vietnamese glyphs were added by Han The Thanh.
TeX Gyre Schola can be used as a replacement for the Century Schoolbook typeface (designed by Morris Fuller Benton, 1919, for the American Type Founders; originally, italics were not designed, they were added in later revivals by Linotype and ITC).
The Wikipedia entry on Century Schoolbook describes Schola as:
A very limited set of styles digitised by URW++ has been released as open-source software as part of the Ghostscript project in type 1 format. TeX Gyre Schola is an adaptation of the URW release by a Polish group. Including a Cyrillic version and small caps, it is perhaps the most complete open-source digitisation of the Century family.
Note: the TeX Gyre Schola preview image above is in the public domain.
See a preview of TeX Gyre Schola via:
See TeX Gyre license for more information.