If you broke your leg as child you would certainly remember that, and whether the sun was out when it happened. The pain makes it stay in your mind. One thing that really remains is the care one receives from others. You remember things done with grandma because she was always kind and forgiving. Furthermore, really horrible events like being involved in a road accident and then being taken to hospital remain as clear as the day they occurred.
We wouldn't have an identity without memories. We are the sum of our experiences. Taking that away from someone is condemning that person to live in the forever "now". Debate is rife about whether learning is anything of value. For example, a day after taking exams most of it is forgotten. But a university degree or any other academic test is something the individual values and society values. Whether you actually remember things taught is quite irrelevant. You have gone down that road and reached the destination. Surely, that is what life is about: having experiences chronologically with the past leading to the present and into the future and remembering certain milestones.