In the spiritual realm and subconcious; life is a school where we´re continually learning.
The fact that you dream you´re always late for class and running in the campus. Might symbolize that you´re not getting the lessons in some aspects ( relationships, family, business, personal growth etc) of your life.
Probably you´re just running your life to fast without planning a schedule and time to meditate and learn what you have to learn.