I'm sure there's a reference posted elsewhere on CC (although I've been unable to pin it down) which explains the limitations of conspicuity clothing, particularly where different colours are needed depending on the surroundings, weather, lighting, sun position, such that you'd need several hi-vis jackets of varying colour for a single commute.
There's also this study which showed no protective effect:
http://eprints.nottingham.ac.uk/12855/
Conclusion
This study was designed to assess the effect of conspicuity aid use on the risk of crash for commuter and utility cyclists. A slightly greater proportion of cases than controls reported using conspicuity aids. There was therefore a raised odds ratio of collision crash involvement for those using conspicuity aids even after adjustment for a large number of important confounders. The study results do not demonstrate a protective effect as expected given previous work testing the effects of such aids on drivers’ awareness of cyclists and pedestrians. This study demonstrates the importance of understanding why many cyclists remain at risk of collision crash resulting in injury despite the use of conspicuity aids.
(I'm not convinced of the OP's claim to be at school either)