The problem when I was in college was that even though about half the students lived on campus, the remaining half commuted. Plus, on any given snow day, most of the professors wouldn't make it in, either.
But I remember one time back in seventh grade when the district decided not to send us home early when a snowstorm was predicted to start by noon. Well, it did, and the roads were so catastrophic that each successive bus run was later and later and later. At first they made us all stay in our last-period classes (the middle school was the last one to dismiss,) but then they herded us into the cafeteria and made us sit silently, finally starting to dismiss a few at a time as some of the buses began to turn up. Ours didn't make it there until close to seven PM - and we were supposed to dismiss at three-thirty. It was quarter to nine before I got home that night. You could imagine all the furious and worried parents...
I'd like to say they learned their lesson, but they haven't to this day. Last winter the same scenario happened and, sure enough, no early dismissal. Luckily the latest bus was only about an hour late this time...