If the captions on those options are static then you don't need code at all - it is far easier to set this by editing the form itself. If your code is making them static for the sake of showing us your code then I would still use the Form Initialize macro instead of doing it as part of the Document_New macro which locks you into only ever seeing the form in a new document.
FWIW, you could do it in your macro if you change the order to set the captions after the form loads
Code:
Private Sub Document_New()
'Automatically runs when this document is opened.
With formMain
.Show
.optSch1.Caption = "School One"
.optSch2.Caption = "School Two"
.optSch3.Caption = "School Three"
End With
End Sub