One of the biggest problems with the current system is funding. As a result of current educational policies teachers aren't educating. They're preparing their students for standardized tests. If the standardized test scores drop, they lose funding and resources.

The result of this is that the students that are lagging receive extra attention and the students that are ahead don't receive the attention they need and end up "average". Public school teachers are left powerless out of fear that parents will come for their head if they don't give every child the attention they need or discipline those who are acting out.

I went to private schools my entire life. Not because my parents had money, but because the public schools where I grew up are some of the worst in the state and beyond dangerous. We moved while my sisters were in grade school and they finished up in public schools. I excelled in school because the classes were smaller, and the teachers didn't put up with the BS from trouble makers. My sisters fell behind when they transferred. On two or three occasions they were failing classes and didn't because I was able to teach them an entire semester worth of material in one or two days in preparing for a final.

All in all, I don't know which is better. Most children in my area that are homeschooled are in that situation because their parents have some sort of religious/political agenda behind it. The result is that many are narrow minded bigots like their parents.

Somebody mentioned the roll parents play. I think this is the most important regardless of where your children are educated. Too many people think schools are responsible for teaching and disciplining your children and this couldn't be farther from the truth. Most of what they learn will come from the parents. Teachers can talk at them nonstop but if the parents don't take an active roll in their homework and study they will fail.