Is racism an educational failure?

I recently got into a “debate” of sorts with a friend of mine. He thinks that racism is due to a lack of education. I argued that there is so much more to it than that. ...
I was raised to be “racist” (yes, I know….shocking confession, but that is another story entirely!) It was mainly inflicted upon me by a stepfather, but I hold no allusions to the innocence in my own blood family (also another story, entirely). Anyway, this guy was one of the smartest people I have ever known (present question excluded, of course)! He was a part of every distinguished club in his high school and college. He could do a difficult Algebraic expression in his mind, no paper, no electronical help….as I watched him do many times. He has literally invented things that are currently awaiting patents. ...he is no dummy. Yet, he is so racist it is not invisible to anyone.
My friend argued that it is a lack of education but I argued that it is SO much more sinister than that.
What do you think? Is racism (generational or otherwise) just a lack of education?