Well, the problem is, it's not really a question of "if" you school them. Most schooling fish, by nature, need to be kept in schools. Doing otherwise can lead to aggression or stress issues.I have read though, that they only require a big tank (50g+) if you school them.
So what would be the average tank size for just 1 bala?
Keep in mind, the reason fish school is for protection--safety in numbers. So, if you take a fish who by instinct seeks the company of his own kind, and keep him isolated, then you can imagine how this would cause him to be stressed and confused.
If you look online, most sites that tell you it's ok to keep a schooling fish as a single species are also trying to sell you fish
From a site dedicated to balas: "Please try to always keep bala sharks in groups of 5 or more. They are schooling fish and they get very lonely and possibly aggressive if you have them singly in your aquarium. In nature, they are found in schools of hundreds or thousands of bala sharks (a few more than would probably fit into your aquarium)." -- http://www.balashark.info/bala_shark_care.php
And, as for tank size: "Some stores will insist that you have at least 50 gallon tank before they sell you a bala shark. For the full grown silver sharks a 125 gallon tank is the minimum you should have." -- http://www.balashark.info/
I've seen full grown balas. They live with some koi in a pond at a mall near my house. They are certainly over a foot long, and quite fat.
A 55 gallon tank is 4 feet long. Can you imagine putting a foot long fish in a tank where he can't travel more than four times his body length?
And, a 55 gallon tank is only a foot wide, so he'd barely be able to turn around.
So, despite what minimum recommendations you find on the web, just in my opinion, balas eventually need to be kept in huge tanks or in ponds.
Anyway, here's some more info on balas as schoolers:
"Not to mention, they are a schooling fish so you’re better off to keep them in groups of 5 or more....The Bala Sharks are docile fish for the most part. There are some cases where they may cause trouble. If you keep them singly or in an aquarium that is too small for them they may become aggressive towards other fishes and take bites out of them."
-- http://www.balashark.info/
And here's just one person's experience at another site:
"Bala sharks need a huge tank!!! At least 100 or 150 gallon. I had 3 for a few years.....in a 66 gallon community tank with barbs. They are a schooling fish and are very fast when they start playing. They also like to jump. This was a really sad mistake on my part.....I didn't do reseach before I bought them and was told they only got to about 6 inches. Well that was wrong!!!! As my fish grew....they would jump....and one hit the lid so hard one day that it did a lot of damage to itself. Another flew out of the tank one evening and as luck would have it....both my Dh and I were in the room....this poor fish landed on the floor beside my dog.....both Dh and I moved fast enough......I grabbed the dog and Dh put the fish back in the tank. Now both of these fish healed but it was not a pleasant experience for either us or the fish.
At 13 inches long....we had to find homes for these beauties.....it was a sad day.....but we knew that they would be much happier in the 150 aquarium that was going to be their new home. They looked much happier being able to swim around a little more. These fish were never aggressive.....just big. Lesson learned here.....don't buy fish unless you have done your research on them....after you buy the fish.....its to late."
-- http://forums.gardenweb.com/forums/load/aquarium/msg0900592419971.html