Its called Austudy in Australia. The idea is that poorer students can afford to stay at school without having to spend a lot of time trying to supplement their income.

It is to give an oppourtunity to break poverty cycles. Obviously it is easier done if the parents are involved and helping. But we live in materialistic economies, so to expect people to stay at school when real world pressures abound is unrealistic.

The other side is the macro level, can your economy compete on numbers and low wages or a well trained small workforce? Or worse can you compete against massive numbers of well trained workers on low wages?

Either evolve and educate or say goodbye to any lifestyle advantages you have.