Are tooth extractions a big deal??

I've had the WORST toothache for 3/4 days now and the tooth is extremely decayed, and it just needs to come out. I was going to wait for my appointment at the end of the month but I absolutely can't so I'm having it removed tomorrow. I'm not getting put out or anything, just local anesthesia and maybe laughing gas. Are extractions really bad? Will I be able to go to school the next day?