This is a Pennsylvania State University-produced safety film from 1982. I found it over at the Internet Archive. It's exactly the kind of movie you think it's going to be from that description. I have several thoughts:
1. I think the reason they used that weird series of still shots for the crash sequence is that a lawyer came into their production offices talking about insurance premiums and risk exposure and potential lawsuits, and he just scared the bejeezus out of everyone involved in the project.
2. "This bus is gonna nosedive any second" -- seeing that line delivered with NO EMOTION WHATSOEVER does something magical for me. I don't just snicker at bad acting. It goes beyond that. I feel like that kid taking footage of the plastic bag dancing in the wind in American Beauty.
3. I thought the girl and the guy had a cute puppy-love-type chemistry. Until I realized the girl would never grow up because she was dead. And that made me pretty sad.
4. On the whole, this movie still doesn't suck like the Ghost Rider flick starring Nicolas Cage. That was not entertaining on any level.