Limits within which education work...

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What do you think is the real role of education in real life. does it make you ready to handle industry requirements or does it give you the basic back ground knowledge to face the technical challenges in career or is it just a preparation to face the career better. Does education alone make one a superior person in career? Doesn't it require more characteristics to face real life challenges? According to me education just give you the technical uplift but much more than that is required to face real life. I can keep saying much more but instead i would like to hear from you. Your experiences and views please.