Suppose someone holds a master's degree in history, and an ad says "College graduates qualify for a 15% discount." Does he qualify for the offer?
I'd appreciate your help.
A holder of an advanced degree is a "college graduate" (in AmE).
recent college grads is the usual phrase (in AmE) to refer informally to those who have graduated with a bachelor's degree in the last year or so. You might find that phrase in an ad for a job fair whose goal is to fill entry-level positions, where the ad-writer is seeking to discourage holders of advanced degrees from responding because the company has no wish to hire people who are more likely to be discontented with their entry-level jobs from the get-go.