To be more specific, a low-income towards the overall school budget greatly affects education; low-income families do not negatively affect education. Speaking for the latter, the monetary income of a family does not affect the inherent intelligence of an individual. Therefore, family income is irrelevant to this question. The means of financial standing can greatly affect the educational abilities of a school. If they can not afford the proper resources, they can not provide the best education possible.
There's very little worthwhile about raising a child in poverty. You want the best for your kid, but the best in your neighborhood is a public school that hasn't seen any decent preventative maintenance since Clinton was president. Uninvolved teachers who barely look up from their lesson plans to see what's going on in the classroom. Outside the classroom and in the neighborhood, there's violence and squalor everywhere, because people who are trying to get by day to day just do not have time or much energy left over to care about their neighborhoods. It's no wonder the dropout rate is nearly 60 percent in districts serving this population.
There shouldn't be any affection of education depending on the income. If a student has low income in the family, he/she can choose to go to government schools, which provide equally quality education. There should only be affection on education if the student has bad behaviour or problems with coping with the course.