Final answer:
Education is referred to as "the new buffalo" by Indigenous elders because it is seen as vital for the survival and well-being of Indigenous communities, just like the buffalo was in the past.
Step-by-step explanation:
Some Indigenous elders have referred to education as "the new buffalo" because the buffalo was a vital resource for their survival and way of life, providing them with food, shelter, and materials. Education, in a similar way, is seen as essential for the survival and well-being of Indigenous communities. By equating education to the buffalo, elders are highlighting the importance of education in preserving their cultures, traditions, and identities in the face of assimilation and colonialism.