It is monopolistic in the sense that you have to pay for it whether you use it or not. Private schools may only be attended by those who can afford to pay twice and even then, the establishment caste gets at least a full cut.

If I were to set the policy, I'd subsidize students rather than teachers and administrators, etc. I.e., demonstrate learning and we'll pay you $XX,XXX to cover your costs whether tutors or books or online courses or brick and mortar schools.