Estimating other geographies (County/Tract/BG to School District)

I apologize if this is a simple question but I am quite new to the ACS. I want to be able to convert or at least reasonably approximate estimates for school districts using the estimates from another geography like Tracts or Block Groups. I wanted to know if there is a generally accepted way to do this because my initial thought was to just use something like the National Center for Education Statistics crosswalk files to get the area of overlap between a school district and a tract then calculate that intersection as a percent of the total tract and multiply the tract estimate by that figure. Then sum up the results for all intersections. 

I will add an image and a table to clarify. The school district is in red and the four tracts it intersects with are in blue. 

My concern is an assumption of even distribution over the tract. Obviously block group or block data would reduce that problem but its not always available. 

Also I'm not sure if I am trying to reinvent the wheel and someone here can tell me if there is a better way.

thank you,