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Your overview @op for sure pictures a core and persistent issue in economics: the migration paradox. Education (formal) fundamentally directs aspirations and opportunity, therefore increasing individuals awareness of the serious income differences between urban and rural wages. This awareness, with the hope of getting a formal job, is a key driver for rural to urban migration.

However, as you clearly noted, this causes a monumental challenge. The modern/formal sector usually cannot generate formal employment enough to employ the plenty of formally educated migrants. This causes the painful results of "formally educated unemployment," where graduates end up unemployed or underemployed in the formal sectors, sometimes in conditions worse than their former rural settlement. High cost of living in the urban compared to the high unemployment or underemployment rate.
Rural to urban migration do not only affect the migrant, it also affects the rural areas by depriving skilled youth, definitely stifling rural development and insinuating a sort of regional inequality.