The results of a school system have almost NOTHING to do with how much money is spent, as long as the rooms are warm in the winter, the toilets work and the roof doesn’t leak. It’s the quality of the people in it and the support structures of the student families. I saw the figures comparing my Catholic high school to the local public school when I was a student there, and, in this measure, the Catholic school was actually laughable. Not so funny were the results of the public school’s student performance in comparison - and that was 40 years ago.
And even then, such conditions could provide the most intelligent and learned students that ever lead society.