Hello!
I would like to throw this suggestion:
Wizards in D&D don't have a spell cap other than their charecter level regardless if they are generalists or belong to a particular school of magic, in FK though, specialists are banned from one or two schools and also the spell cap for those spells that don't belong to their school and can cast, have a lower cap than of a mage's in return they can GM spells from their school and have an additional spell in each level slot.
My proposal would be raising the spell-cap of specialists up to the same cap of mage's, an extra spell is fine and all, but if you can meditate and restore all them really doesn't make the difference. In this case then the only difference between mages and specialists would be the banned school(s) opposed to a extra spell in each slot level and the ability to GM spells from the specialist school, which seems more of a fair deal.