I would say that Education is the foundation if you consider life as a building. You can last long facing many problems if you have a strong foundation.

But there are people who are illiterate, and have risen to a notable place ( E.g : Abraham Lincoln ). But for that, the person should have a real luck in his life or a wealthy family background to have a notable place especially in the politics field ( with regards to my country :P ).

But if you do not believe in luck or fortune, then you should think of having a high education with some degrees to survive in this competitive world :)
Source(s):
Personal Opinion

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Role of education in life is considered very important, its make you a social being and builds you to live in society and tries to make a good human being out of you, but the culture, society and surroundings you live make you "Good or Bad Being"
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That truly does suck for you! As for overnight millionaires I do know what you mean, but unfortunately can't relate to. I'm currently attending college for a trade that will require hard work, and demand a toll on my body...the things we do for money! School is important and with the right attitude, and persistence will pay off in the long run. It's extremely important to continue to teach that to our kids, and not thinking that the lottery is the way to go(although if that happens I'd love it), for the majority of us, the reality is that school is a vital role in our lives! JRod
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Reality

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