I think your analysis mixes up college degrees and graduate degrees. 'College degree' refers to a 4-year BA/BS, whereas 'graduate degree' typically refers to a PhD, Master's degree, or professional degree (JD/MD/MBA).
Yeah GP seems to be missing something. PhD programs at top schools are somewhat hereditary at this point. It’s so competitive and there’s too much stuff to just know how to do; spending time with a family member who’s done it before is a huge leg up vs. figuring it out on your own.
It's also an extremely stupid thing to do financially, in almost every case. There are intangible benefits to it, but you need someone coaching you on them in order to accept the choice to actually halve (or more) your income. (Take it from a 2nd generation PhD who has halved his salary being a professor vs. working in industry.)
I'm just saying that to people outside the US, the article is unclear because the words mean different things in different countries, which could affect some commenters.
Disclaimer: I only know what we call degrees in NZ so I am just trying to say why people from different countries could be confused. And this comment probably is confused itself, sorry.
In the UK you do GCSEs about age 16, A-Levels about age 18 (there are some vocational certificates too), both while typically living at home.
You then typically go away for a Bachelor degree which lasts 3-4 years and gives you a BSc, BA or similar. After that you might do a Masters degree which would be 1 year (full time) which gives you an MSc/MA, then you'd start a doctorate which takes several years before getting a PhD
At 16 people leave that track and do formal qualifications in more vocational areas (bricklaying, farming, etc), at 18 people who didn't do vocational training from 16 may leave, a gap year is quite popular at that point, where you have a year off and travel the world.
Most people who do BA/BSc level courses will finish after graduation, typically age 21-23 (depending on gap year and length of course). Some stay direct on, plenty of people do Masters remotely part time later in their careers.
