I don't think that the Elders I knew were "dumb." Misguided, but not dumb. Most of them were self-employed with thriving businesses. Most of them were contractors. While some of you end to look down on people that had janitorial or window washing businesses, I tend to admire anyone that creates his/her own wealth rather than relying on some employer to pay him. It takes a lot of common sense to run a business.
That being said, I only knew two elders that went to college. One is a professional photographer & the other a contractor. While they both tended to downplay their education (gotten prior to becoming JWs), there was a difference in the way they talked when compared to other Elders that did not have the same education level. The funny thing is that they both hold my dad in high esteem, and all he has is a high school diploma. Isn't it funny, what practical exerience does?