(Typical School Environment)
The American school is an educational institution worshipping and idolizing a host of conformist ideals. Required by law, until reaching 18 years of age people must attend school. In school, one is taught the ideal that one must conform to in order to acquire the vision of success held by the populous.
The American school is infamous for its abusive social environment. There's a "right" way to talk and walk, there are "right" things to wear, "right" things to do, "right" things to like and dislike. Those who do not conform to this ideal are ostracized by their peers and are labeled "losers". Due to this abusive school environment, there have been numerous cases of depression and, in extremes, suicide.
The American society is structured by school, which is given unnecessary stress. If one is able to learn things independently as opposed to in school, it does not matter. To attain the job you want it is a common pre-requisite to have a degree in college. For example, even if one's knowledge surpasses that of a person with a Ph.D. in Computer Science, if one has not received a college degree in Computer Science, the person with the Ph.D. is going to get the job and not you. Although a college degree is not required to attain a job, to get the best income a college degree is often required, but not always.
School's importance in life is that it teaches you how to be a complacent conformist, for those who rebel, those who go against the System, will not become "successful" in life, therefore for now, school has much importance.