So I go to a very large public school, and every night I am up doing homework. I try my hardest and do all my homework, but am still failing most of my classes. Most nights I only get about 3 hours of sleep, and it's ruining my voice. My voice is now raspy from lack of sleep. So I was considering dropping out and getting my GED since Im 16, but that's a last resort. So I would like to know the pros and cons of an alternative school.

I suggest you get a tutor. It probably would be cheaper and more easily accomplished in the long run than an alternative school would be.

A tutor will get you organized, and help you work through homework and what you don't understand.

Getting a GED is a pain in the neck.

It seems to be a issue of either time management, poor study habits or issues with ability to grade level. I agree, speaking with your parents, working on study habits and getting a tutor