Is education a privilege or a right?

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There is a debate going on in my university as to whether education is really a right or a privilege. This debate sprung from the administration's decision to raise the tuition and other fees by 300%, without considering that the university has long since been considered as one of the few schools in our country for the smartest yet financially handicapped students. So what do you think? Is education really a privilege or is it a basic right which everyone, poor or rich, should have?