You will allocate more to other investment schemes that you think will grow your capital. But if you are not a rich person but instead come from a poor family and your only hope is education to get out of the poverty you are facing, you will surely prioritize spending money on your education. This is, practically speaking, based on my opinion.
However education is not the only gate way to richness because some rich people who were not educated are now fixing themselves into schools or some just by their certificate from the school and that is it. Like if a CEO of an organisation only pays for school fees and other school requirements as a student but he doesn't attend classes for study of the course he registered for and at the end of the program he is called out for certificate award, it means he bought the certificate. So my point is education is not the only way to richness but except you are sure paying the fees is guarantee for job at the end because there are job loss across.