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Using CEPS data, this study found that family expenditure on off-campus training can improve the score of students' cognitive ability. With the ever-increasing score of students' cognitive ability, the family’s educational expenditure shows an “up-down-up” trend. By increasing family’s educational expenditure, students’ cognitive ability with high scores can be enhanced while the academic development of those with low scores will be stifled. It is crucial to implement the “double reduction” policy and prohibit off-campus academic training, it’s also indispensable to control the scale of extracurricular classes. Schools should optimize teaching resources and bring in quality content, which will meet the demands of parents and students. Government should provide precise educational subsidies to those low-income families and social vulnerable groups.