Django multi table inheritance creating parents

Question

If, for example, I have the following:

class User(models.Model):
    school = models.ForeignKey(School)
    email = models.EmailField(max_length=254)
    password = models.CharField(max_length=32)
    name = models.CharField(max_length=50)

class Student(User):
    form = models.CharField(max_length=20)
    parent_email = models.CharField(max_length=100)
    parent_phone = models.CharField(max_length=20)

Then is it possible to create only a student, but the email, password and name go into the User table and a User model as well as being linked to a School?

>>> a = School(data...)
>>> a.save()
>>>
>>> b = Student(school=a, email="[email protected]", password="badpass", name="bob", form="y10", parent_email="[email protected]", parent_phone="123")
>>>
>>> b.school
<School: data...>
>>>
>>> b.user
<User: school: a, email: "[email protected]", password: "badpass", name: "bob">
>>>
>>> b.save()

And in the database, it would show the User attributes of b in the User table, and the Student attributes in the Student table (with a One-to-one relationship).

Thanks again :)

(The reason I'm not trying it is because something might go wrong. I've had to reset my entire project about 6 times now because I wasn't careful when testing stuff :( )

Oh and should I use Python 3 over 2? I'm currently using 2 and haven't really used 3 in any depth, and I'm new to Django as well (hence all the questions). Is 3 better suited for Django development?