Hi Manoj,
AFAIK (and I don't know much TBH), this isn't possible in MongoDB. At least not with the thinking that subdocuments can be returned like single documents. Mongo can only give you the complete document with all subdocuments as a result. There might be a way to do it with the aggregation framework, but that is way above my current knowledge.
I think you have two choices.
Create a "students" collection and query on the students collection, where the id of the schools collection (I am assuming that is the name of the collection of your example data above) is a reference field back to the "schools" collection _id. If you need more data about the school, it would be a very fast second query to that collection. Yes, this is going back to normalized data, but that isn't necessarily a bad thing in Mongo.
Or work with the result data for the school from the whole document in your application and "pick out" the data you want to show.
Seeing you will be having probably 1000's and 1000's of student and a single school could have 1000s of students and over the years, get a whole lot more and most likely you'll want to do a lot more querying on them, I'd say it is better to reference between two separate collections.
Scott