A school is much more than a medium through which academic training takes place. All educated parents (with time on their hands) can do this quite effectively at home without sending children to school. School is not merely a teaching academy!
A good school provides opportunities that a single household cannot. It enables students to socially interact, teaching them the rules of interaction when they venture out in the real world – enabling them to live in a civil society. It teaches them tolerance in face of opposition or even provocation, to agree to disagree, to have a democratic perspective, to observe social etiquettes such as forming queues and waiting for one’s turn, to be disciplined, to acquire success through diligence and hard work.
School is a microcosm of society at large: it prepares us for entry into adulthood equipped with skills to cope with the challenges of adult life and to turn setbacks into triumphs! School is NOT simply an academy to prepare children for exams!