Is this the right decision?

No, your problems can be handled on an outpatient basis, people are only hospitalized or put into residential treatment centers if they are crippling ill. I have been admitted three times and it is no place to be at all, especially when you are sane and able to get the help you need outpatient. Maybe going to a special school or being home schooled so you can still get your education but hospital, defiantly no, it would not help. People in there are so ill and it doesn't help with anxiety or depression at all. I think you should try home schooling and see a psychiatrist or psychologist ever week. I went through the same thing when I was in school, outpatient treatments are so good, they might not seem it right now but things take time and in the long run you get your education, get to see your family and are not stuck in a psychiatric hospital totally sane with people who are not. Good luck and stay strong!

Well a residential center probably would not be the worst thing you can do. I would offer you a couple of things... your behaviors may be related to a very easily treated problem. Have you ever taken a supplement called N-Acetylcysteine or NAC. You can get it online or in health food stores. It might put you back on the road to good mental health. It is worth a try, but of course you have to be motivated to change. The behaviors you describe can be managed at least to some degree by a simple desire to do so. It doesn't mean you can change overnight, but if you look at the options... a record of mental health issues, inpatient care, etc. tagging you for a lifetime, or the possibility to lead a fairly normal or even exceptionally good life.. well you might want to redouble your efforts. Also try the NAC, it can't hurt.

I'm not sure if you mean you are supposed to be in school and just not going, or you graduated high school/college. Whatever the situation, I would try to get yourself checked in to the Psychiatric Ward of your hospital if you feel that you've done all you can.