I think that question can best be answered this way:
Schooling is the motion of moving together in a group. A true schooling species, like the videos of marine fish you see on documentaries will always school.
Shoaling is more staying together for safety or foraging reasons, but some shoaling species will exhibit schooling behaviors. So, if the species schools temporarily, like say during flight from a predator, the closeness of the group and their ability to move in unison may relax when the stimulus relaxes. However, this largely depends on species and the unique situation as well as (in some) cases the age class, size, gender and individual personality syndromes of the fish involved.
Shoaling/schooling are incredibly complex behaviors and I honestly think your question is one that a lot of the research I am looking at is trying to determine.