Recruiting in 2012...

Because it isn't an education requirement, it's an age requirement. They are legal adults, and there is absolutely nothing significant about the age of 19.

Make it 21, because you know they'll be drinking.

Being a year removed from high school generally allows teams to have a better understanding of the capabilities of their potential employees. That's exactly the same as having a degree allowing a business to have a better understanding of the capabilities of their potential employees. Neither is a perfect indicator of success or failure, and there are obviously high school kids that could play in the NBA and people without degrees that could do 10x the job of people with degrees. It's all about risk management and protecting your investment. Every business does it.
 




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