Palini's solution works as proposed.
struct Employee high_list;
high_list.student_list = (struct list *) calloc(20, sizeof(struct list));
if (high_list.student_list == NULL) return -1;
Of course, the includes <stdio.h> and <stdlib.h> must be used and there should be a semicolon at the end of a structure definition.
Attention: For the strings name and school_name you also need memory as soon as you use them!