He grew up poor, never married or had kids, and worked as a carpenter at the same company for 67 years.
He owned just two pair of jeans and drove a rusty old Chevrolet truck.
Shortly before his death in 2005, Schroeder told his attorney, Steve Nielsen, that he wanted to use his savings to help poor students in Iowa go to college.
Over the past 14 years, Schroeder's money has sent 33 young Iowans to college.
"He wanted to help kids that were like him," Nielsen said, "that probably wouldn't have an opportunity to go to college but for his gift.".
Conrad remembers getting the call from Nielsen that her $80,000 tuition bill would be covered by Schroeder's scholarship.
"For a man that would never meet me, to give me basically a full ride to college, that's incredible. »