Update: I reached out to the school district and the village. The village was for the broken walk signal. I have not heard back from either of them. Typically, when I email the village they fix it, but I never hear anything back anyway.
I assume the school district will conclude that the road is not a hazard and continue doing everything the same that they have been doing, but I did have to ask them to take a look at it. I got the stats on crashes on that road, and they are the highest in the school district area without bussing, and probably tied for the highest with one other road that has bussing (due to distance).
Our district provides bussing for all elementary students, middle school students who live >0.5 mile from school, and high school students who live >1 mile from school. At the outer range of 1 mile, some kids are probably walking 15-20 mins to the high school. We don't happen to live in that radius, but if we did, I'd expect my kids to walk. Most kids here do, if they live in those radii, barring a special circumstance like a very large instrument to transport. Those can't be brought on the bus anyway.
If there are safety deficiencies along the route I'd raise it to the district transportation office, with cc: town supervisor and highway department. At the high school level though I'd generally be suggesting walking in groups with neighbors if possible, and awareness/safe navigation of hazards, rather than volunteering to drive my kid every day. It sounds like your kid needs to learn that anyway for the afternoons, might as well apply it to mornings as well.
2nd update: School district got back to me on how they decide. Apparently, there is a scale point system. If the road is at 20 or above, then it qualifies. Age of student is part of the factors. This road is a 16.5, so it doesn't qualify. But it is kind of a high score, so I am not completely off base.
I still want to see what the village is doing about pedestrian safety. I'm pretty sure the mayor ran on that, and then did nothing about it. So I need to follow up at some point in time.