Using Office 365 products with Schoology is a dream. The students already know how to use Word, Powerpoint, etc, so it just creates that living document that we can collaborate on. By creating a template for them to build upon leaves room for their creativity, but eliminates the hassle of building everything from scratch. Even the youngest students can create powerpoint documents with pictures, fonts and save this great work for years to come in their office 365 account. You should definitely use an Office 365 or Google Classroom account with Schoology.
Discussion boards are great for responses to more than just written questions. I love to post a video or read a passage for students to respond to. I love even more that they can respond using a video themselves. There are so many options to meet learners where they are at. They can be challenged, but stay in their social comfort zone.
The ability to embed content for students to interact with is where I am going next. By creating an interactive Bitmojo classroom and embeding it in the announcements, you will have a one stop hub for the students to access all the library materials they need.
Also, make sure you archive your courses and save in your resources. That way when you come back the next year, you don't have to recreate the wheel. It is already created. Just tweak what you need and there is so much less work at the start. Review collected by and hosted on G2.com.