It doesn't 'speak' to me. I don't particulary like the layout: there are no images that show what the site is about, just some text which isn't very descriptive.

You need to show me what the site is about, and why I would want to use it. what are my benefits for using the site? How is the site different from greatschools.com or school-data.com? What are my benefits for signing up?

So, layout and the value proposition is one thing. The second problem is content. I realize this is a chicken and egg problem, but if I were to stumble upon the site I'm not inclined to subscribe. The reason: the site is as good as empty! You need to fill it with reviews: rally up classmates, facebook friends, family to subscribe and review their schools. You could use Amazon Mechanical Turk too, and pay people to write a review. You say you're getting traffic, and with your improved site with the initial reviews, your chances of getting actual users have increased.

Building a site is relatively easy. Getting users is much, much harder. Good luck!