Do children learn anything by completing home work given by schools?

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I find that schools give a lot of home work to children and at times they have to sit late in the night to complete it. As a resault, they are so busy that at times they are unable to study anything else. Is home work of any use? It is basically some thing children do without giving due thought. They have only one thought that it has to be completed. What is the point if they are not learning?