Аннотация: The article describes the main functions of education in the modern world. It also discusses how this social institution provides inequality in the society, though it gives humans knowledge, skills, it plays a role of social allocator, teaches core values, gives orienteers in life. Like any other social institute, it is not perfect. Lack of education – illiteracy causes many problems, but first of all, poverty. Inequality in schools and universities can end up in underrepresentation of women in some countries, social harassment and segregation.