In the book "Coming Apart: The State of White America, 1960-2010" by Charles Murray, he states that for children with two white parents, the expected IQ as a function of parental education is as follows (p66, available on Google Books)
95 -- two high school dropouts
101 -- two high school graduates
109 -- two college graduates
116 -- two parents with graduate degrees
121 -- two graduates of elite colleges
Race matters too.
How does race matter?
In the U.S., blacks score about 1 standard deviation below whites on IQ tests.
Interesting that this does not apply to immigrant Nigerians as a group, for instance, which to me suggests that this deviation has little to do with race and more to do with low income and culture.
