Okay so give me a second to pitch the idea. Basically imagine the various monsters and people from them are actually created for a real purpose, to keep humans afraid so they will be in a constant state of advancement due to their fears. In order to train the next generation of monsters a university was set up by the older creatures of fear to train them. Teachers could range from Jeff the Killer to Slenderman.
But the university has enemies, namely Zalgo and his army of Blanks, creatures created without the special spark of human imagination for the purpose of driving humanity over the edge with fear. So students also have to fight against Zalgo and his armies, all while learning what it means to be a monster.