"Children go to school."
Translation:बच्चे स्कूल जाते हैं।
Correct. विद्यालय (pronounced vidhyaalay) is also a word for school though it is somewhat formal. You'll often find it in the names of schools though not so much in casual conversation.
Another word for school is पाठशाला (pathshaalaa).
स्कूल is still the most common word you'll encounter in casual conversation though.