Hello,
Another way to think about this is "to bring someone up" refers to the person or people who care for and raise the child to young adulthood, for example parents, relatives, nuns, etc. In addition to your example:
When my parents died, my aunt brought me up.
My sister is bringing up three very lovely girls.
I was brought up in an orphanage.
Who brought you up?
To be educated usually means to be taught or acquire knowledge, as in a school, a church or at home. While parents may do this, as in home schooling for example, it is used to refer to the school or situation in which you learned reading, math, science, etc.
It sounds a little strange to my ear to hear "I was educated by Mr. X " Maybe in a written or formal way: I was raised by my parents until I was sent to the academy to be educated by the priests.
I hope that helps.
Best,
Martha