Is this sentence wrong or right? why? "I am going to school by bus everyday"

We have this conversations here at our office about this sentence.

"I am going to school by bus everyday"

I said that this sentence is right and nothing is wrong about it.

but my friends says that it's completely wrong. because when you have everyday at the end you cannot have "going" and the right sentence is "I go to school by bus everyday" ( which is also right in my opinion )

The present continuos tense 'I am going' describes an action that is either occurring or about to occur but which will soon cease. So, 'I am going to school by bus' implies that soon I will no longer be going to school by bus. 'Every day' gives no such sense of cessation and so should be used with the simple present tense.