To be frank, I don’t think that society can replace parents. If some parents are prepared to invest money and time in their children’s education, society isn’t going to be able to compensate for the parents who don’t do so. Parents who invest time and/or money will contribute much more to the success of their children than parents who don’t do so.
(Note that I’m not making a judgement on those parents who don’t contribute. Maybe they’re limited by time or financial circumstances or a thousand other valid reasons. As well, someone who only writes a check to an expensive school probably isn’t as helpful as a poor parent who spends hours with their child on homework.)