At latest round of meetings held by Circuit Overseers with the Congregation Elders, the Circuit Overseer quoted from the Society's outline the following directive:
Any Elder or Ministerial Servant who encourages college for his kids or others, or who allows his children to go to college, will no longer qualify for these privileges within the Congregation.
So, there you have it. No college for the children of Elders and Ministerial Servants unless they intend to forego their positions.
What is of further interest, Albert Schroder's son, Judah Ben Schroder is enrolled at Columbia University in New York City. Talk about a double standard!