Back in the days of school I was in one of those places where for the younger years at least you'd get detention for being caught swearing or being on sites with swearing in it. As I was using TSR to help with my studies, I know that should the school have realised there was no swear filter they would not be happy.
That said, for the purpose of discussion having **** compared to f*** which most sites have even with an education focus, I can't see the major difference. However, you can see the issues with the second one. And for moderation purposes the second one could get so out of hand.
TLDR, keep it as it is