Yes. Our population densities are lower, school distances are often not walkable reasonably, and schools being public they want to ensure that their students are not impeded from getting to the classroom for any factors related to logistics, income, etc.
Often times these are part-time positions. Set block of hours twice a day. Drivers can take on additional duties or other jobs. The buses themselves are either owned by a transportation company that can also hire them out on weekends or making additional money on field trips / sports transportation.
My kids are fortunate enough to be able to walk to their school - there are sidewalks and it's only a half mile away, but many other students have a longer walk, no sidewalks, or other impediments that leads them to prefer a bus. Kids could take public transit, but typically this is not a great solution in most places, and it doesn't deliver you to a school directly. The latter factor helps with truancy, security, and a number of other things. There's a cost to it, but it is a norm.
It would be straightforward for a school district to agree to change the policy or reduce bus service for cost reasons if public transit and things like walking, biking were preferred options. These are typically the norm for private schools.