There is genes and there is environment. The genes determine your potential. The environment determines the expression. The parents bring all of the former and a lot of the later. This is why a lot of classes are bimodal. In layman's terms, either you get it or you don't.
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I agree, both factors are important variables in education, schools only do the rest. I've seen a lot that those who come from good environments and families are more likely to succeed than those who don't.
This is the case and it does not seem to have changed much at present, I believe that this chain should be broken and once and for all a more egalitarian education is provided regardless of whether the education is public or private!