In the sense, that most of education is about signalling, and funneling more money into education just fuels the arms race.
See Bryan Caplan's Case against Education for more details.
(The part of education that's actually about learning has mostly become cheaper than ever, thanks to the power of the Internet. But unless you got a piece of paper from a university, hiring managers seldom care. (Especially outside of tech.))
So donating money to further educational institutions is bad for society. It has a negative impact.