Does formal education make someone less religious? If so, how?

I've read the recent Gallup survey that reported on the decline in religious belief, identification, and participation in the US. One line in particular that I've seen posted here and on other social media sites, reads "belief in a literal Bible is highest among those who are more religious and among those with less formal education" (emphasis is mine).

Does more formal education make someone less religious, or ought it to? And if so, how and why? The implication that I take from those posting this quote, based on either my personal knowledge of them or my observations, is that it should.

I'll post my thoughts in an update later on.

Does formal education make someone less religious? If so, how?
Does formal education make someone less religious? If so, how?
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