This was my racist grandma's favorite movie, with Mrs. Doubtfire, The Lion King and The Sting all tied as a close second. Son in Law was third.
She hated the sequel though. She felt the black students "screamed" when they sang and the fact that there were white guys rapping with ballcaps on backwards at the end really pushed it over the edge for her.
She was so offended by anything that combined a black person among whites in close proximity. I remember her flipping the hell out when she first saw Power Rangers and there was that one black dude in the group. So why she was so in love with this movie always baffled me.
That being said, I have fond memories of this film and still like to watch it every now and then. It's a fun movie and I really like this song.