Back when ISE was the Xilinx toolchain, it was possible to do schematic entry. Now that Vivado has come along, that capability is gone.
Schematic entry might have made sense when designs (and chips) were small, about the size of CPLDs. It just doesn't make sense for the kinds of things folks are doing today.
It is just a whole lot easier to write something like Z <= X XOR Y; than it is to draw it out and then have to instantiate it as a component.
These days, Modelsim has a Student Edition that is free. This was not the case about 15 years ago when I started playing with this stuff. As a result, you can code and simulate projects quite quickly. Of course, there is the issue of writing test benches but for some minimal circuit, this shouldn't be a big deal. In fact, the entire Latice tool chain is quite nice in an 'old school' kind of way. Since I only use Xilinx, I guess I will stick with Vivado because it has a simulator and, better yet, an Internal Logic Analyzer that lets me debug the actual hardware. It's a huge and slow toolchain but it works quite well.
A high end PC is recommended for Vivado. During synthesis, the tool will use up to 8 threads and it needs every one of them. The WebPack version is free but it doesn't use the higher thread count for place and route (where it needs it) or bitstream generation. But it's free so I don't complain!
Modelsim will run adequately on just about anything. It doesn't have to do any of the complex tasks like systhesis, place and route or bitstream generation so it compiles FAST.