This paper talks about the use of Extended Reality (XR) in education and the ethical issues surrounding it. XR is seen as a pathbreaking technology in the field of education and has been extensively researched by various technologists and educators over the last few decades. Multiple studies in the past have shown that using XR in education has a significant positive impact on students' knowledge development. From visualizing atomic-level chemical reactions to going on a space expedition, the possibilities are endless. But this also brings up issues regarding data privacy, misuse of the platform, and other ethical concerns. To better understand this, this paper reviews research conducted on the applications of XR in education, its advantages, disadvantages, ethical considerations, and overcoming the challenges regarding its use.