Hi.
I understand the frustration you're experiencing. Error code 500121 in Microsoft Authenticator usually indicates a mismatch between the time settings on your device and the server. To resolve this issue, please ensure that the time and date settings on your new phone are set to automatic. This should sync the time accurately and resolve the mismatch causing the error.
If the issue persists after adjusting the time settings, you may need to contact your school's IT support team to assist with resetting your MFA settings for your account. They can help you start the setup process from scratch to regain access to your Microsoft 365 apps.
I hope this information helps you resolve the issue. Let me know if you need further assistance.
Jose R.
Microsoft Community Support
Support Hours: Monday to Friday 7:30–17:30 EST (Except US Public Holidays)
Estimated Response Time: Within 1 Business Day.