One can invest it again in a 6 month bond with the yield curve inverted further. The decrease in rates would happen over a longer term than 6 months. And also if the rates have decreased the prices would have increased for the bond that is held.
Not sure I can speak to this question since I'm not affiliated with admissions at all, but I can tell you the makeup of my cohort.
Most (I'm guessing 75%, possibly higher) have some work experience. Most have either strong math background or strong software background but there are exceptions. Lots of former engineers of all kinds, chemical, mechanical, software, etc.
