Institutions are the rules that guide social interactions. By creating incentives or constraints, they guide human actions in the social cooperation process. Society is a reflection of social cooperation and becomes, in fact, the expression of the existing institutional frame. In this paper, this general and valid hypothesis is applied for the analysis of education as long as education can be described as a result of social cooperation. The main aim of this research is to offer an answer from an institutional perspective to a question of an utmost importance: what is the role and significance of education in every society? The undertaken approach is based on methodological individualism in explaining education as a result of individual choice made in a specific institutional frame.