In my experience, most members received a college degree before joining the cult, but they are counted.
I listened to the "Society" and because of the nearness of the end, chose to go to Bethel rather than go to College.
While I was there, one of my co-workers (who became a JW after he graduated from college) was taken off the Bindery line in the sweltering factory and was assigned to the Legal Dept. He was sent to Law School and received a Law Degree, on the Societies Dime (or should I say, on the donations of other JW's who weren't allowed to go to college themselves).
Those of us who listened to the Societies advice, were passed over (even at Bethel) for not having a College Degree even though many of us were quite capable of having earned one.
Years later, he left Bethel and the JW's went on to have a career in Law.