A relationship where both members go to the same school. These are typical for lasting a short while and being almost meaningless due to the hazardous nature of the school environment. Often, the paticipants are 16 or younger, lacking the maturity to uphold a realtionship in this environment.
"Did you hear about Cleopatra? She didn't even speak to Henry for 2 weeks then dumped him."
"It was a schoolationship. What did you expect?"