If I were back in high school, all this would have told me is that I'm staying up until at least midnight, if not later. I was usually good about sleeping around 9:30pm which gave me roughly 9 hours sleep.
Since I assume this means school will end later in the day, this just means homework gets pushed much later too. My parents were very strict about homework being done the same day, so there's no chance I would have been able to keep my old schedule and do homework in the mornings.
I'm curious what the effect is on the average and median kids. This would have been incredibly annoying for me.