I worked with school publications (newspaper and yearbook) for over 15 years. Our school district published our high school newspaper on our school's website. We used an online program through Taylor Publishing Company to create our yearbook, but we opted for a printed yearbook as opposed to digital.
You have asked a very good question. I did some research and found an interesting siteYour Student News that offers over 100 newspaper templates and space to publish a school newspaper online. The site was founded by a teacher who is now Vice-President of Appalachian Multimedia Corporation. The down side is that this website is not free. There are three levels of pricing--bronze, silver, and gold. I honestly thought the pricing appeared reasonable especially for public schools.