What is wisdom? Like any other philosophical question, this is not one that anybody can answer in just a few words. Like ignorance or foolhardiness, we can identify if when we see it. The wisdom of an act or by the thoughts of a person makes itself evident in many ways, however wisdom resides within the mind of the person doing the act or saying his or her thoughts.
Although a person may be educated, education is not a prerequisite for wisdom. I am quite sure that no university that has a Wisdom 101 course. One attribute of wisdom is the understanding yourself; knowing both your physical and moral strengths and weaknesses. If you know what you are weak at, you will find ways to strengthen those areas or to avoid them all together. Learning how to understand how your own mind works will help you to understand others. Wisdom is the ability to understand consequences, to look forward and assessing possible risks and making common sense judgments.
The bottom line answer for me is that wisdom is learning from your mistakes and after learning all you can, realizing ultimately that you, in fact, know nothing and are humbled by that fact. Any process of education, whether it is formal or not is enriching as it will help guide a person along their journey through life and allowing them to realize that there is more to life than just the path and its end.