Well, it's hard to say for sure. Sometimes shows take inspiration from various sources and blend them to create a story that feels true, even if it's not strictly based on one particular real event.
Yes. It was inspired by true events. It shows a rather dark and violent side of the school environment in 1984, such as problems with discipline, student - teacher relationships, and the general atmosphere within the school. This makes it not only a fictional horror - thriller but also a commentary on the possible realities of that era.
It could be about the experiences of a group of students who graduated in 1983. Maybe their high school or college years, including things like friendships, rivalries, and coming - of - age moments.