ChatGPT has transformed the way how education is accessed and made education more interactive and personalised; however, depending on the use, it can be effective or disruptive in education. The use of ChatGPT in education has brought both opportunities and challenges to users and academic institutes. It can make virtually all educational services personalised, automated, efficient and cost-effective; however, users and academic institutes should also be concerned about it using in education due to a number of issues with it, such as misinformation, inaccuracy, bias, cheating, privacy and security; therefore, a careful consideration should be given by them before using it in education. This paper will provide both effective and disruptive aspects of ChatGPT, and elucidate how it can be effective and how it can be disruptive in education. Initially, it will discuss the historical development of chatbots from ELIZA to ChatGPT, and applications of various AI chatbots in education. Afterwards, this paper will elucidate various advantages of ChatGPT in education. Lastly, it will elucidate various challenges of ChatGPT in education. This elucidation will offer a comprehensive and simplified analysis of educational use of ChatGPT.