This policy is contradictory on so many fronts.
First of all, if you study all of the writings of the apostles as they pertain to qualifications for "older men" in the congregation, one will find that this kind of policy is an arrogant overwriting of those qualifications. There is nothing in the Christian Greek Scriptures to support invalidating qualifications to eldership based upon personal education decisions.
Remember that the organization continuously criticizes Christendom for going beyond Scripture and enforcing human traditions with the authority of law (i.e. Catholic Church’s ban on contraception, Mormon church’s ban on alcoholic beverages). This was actually a sticking point in the latest tract they printed on false religion.
Second, I can cite numerous examples of JW youth who went to college and then were accepted to the World Headquarters based upon those educational qualifications. I know personally of a young sister who went to law school and became an attorney. She was accepted to Brooklyn Bethel and immediately began doing legal work.
There is no Scriptural justification for this whatsoever. Policies such as this reveal a mindset that is hopelessly out of touch with reality, deluded with self-importance, and arrogant.