Yes it is!
To change your email address, follow these steps:
Log in to your account on the Account Login tab at the top of the page.
On the right hand side of the page, select Account Details.
Under Email Address enter your new email address.
Scroll down and click on Save Changes.
You may want to consider using a personal email address rather than a school-based one as school accounts sometimes use filters that may prevent you from receiving emails from My Music Resource.