Elite education

I am often surprised by the parents who belong to middle class families in Pakistan. They pay 1/3, or 1/4 of their income as school fee of their one or two kids studying in primary classes. And after that obviously they always get lack of finance for their needs. This trend of joining elite schools is prevailing among our middle class in Pakistan.
Some people may disagree with me but personally i am strongly against this trend. A student in average school having proper attention of its family is with same chances to excel in future as a student of elite school.
One of my close friends made a long debate with me on this issue. He was of view that elite schools are a guaranty of better future. Our views conflicted and recently our another friend provided us with practical and verifiable examples of elite schools students with dark future in practical life. It seemed that my friend got convinced by those deniable examples.
So let us accept that elite schools are not imperative for success of any child. There are various other factors that contribute, so there is no reason to insanely disturb the family budget by just paying lot of fee to elite schools.