Many people studying today had poor parents that never had any form of higher education. I don't think the US systems is good at this. It concentrates on excellence or at least the appearance of it, although there are probably exceptions if you parents are rich or influential. Bad thing is that it works to a degree because the smartest heads get concentrated while others need to be content with lower quality education. A system that should be obsolete with modern logistics of information. Tech is currently leveraging that weakness by building an even worse alternative with their own campuses. While integrating the industry in universities can be quite the advantage, I doubt this will be a helpful basis. There will be people that like to live in infrastructure belonging to their employer, it is just the modern version of a cult.

I don't know about the issues in India, but perhaps lower caste members just don't have access to education. Financing education in the US is difficult because economic imbalance and ridiculous prices on education. Of course that works as a selector if you don't get a scholarship.

I think it is fairly possible to have a broad education system that doesn't determine your future if you fuck up elementary school. Instead there need to transient systems that allow to build upon your educational career, because pupils learn at different speed and had different advantages like private tutors.