Does "recent college grad" in a job listing equal discrimination?

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I've been searching for a job for awhile. In the past, especially when I was younger, I felt that companies looking for "recent college grads" usually wanted younger people because presumably they wouldn't know better as far as being underpaid, or if the job was a scam. (I almost fell for one of those myself when I was a recent college grad). Now that I'm in my 30s, I'm wondering if it is simply a way to avoid hiring older people, either for financial or other reasons. I see some fairly good paying jobs that there is no reason I am not qualified, other than that I graduated 15 years ago. What do you think? Is it discrimination to hire people based on when they graduated from college? Edit 10/21/16--Looking for a job again...STILL seeing this discriminatory language. Jobs that pay more than my last job did, but they want a "recent college grad". I apply anyway, the worst they can do is not call me.