I don't see why not, but I would make the school about 5 then. Also, I have found that my tetras thrive with extra air in the tank, so an air stone would do wonders. It's not necessary right from the start, but I think it will definitely help things a little later if you can't afford it now.
Do you have a water testing kit already? If not, one that tests ammonia, nitrates, and nitrites will be needed so you know when your tank has cycled.
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Phishie

"An ounce of prevention is worth a pound of cure."