Well, I wouldn't really suggest wearing a racquet bag with backpack straps to school because they're pretty big. You're better off just buying a separate racquet bag for when you're not in school. Just bring your tennis racquet with some balls in your normal backpack that you bring to school.
I have the TF V02 one, and yes it is built like a regular backpack, but there are only three compartments, one which is thin and holds racquets, and two smaller ones for accessories. I don't think you can accommodate more than one or two large textbooks.