I would say it is true. On the PTS, they set us at 76, and gave us the subclass items so we could start a subclass. That would imply level 76 is needed to subclass. However, since we were also expected to do the nobleses/hero quests, it may be that the level 76 was for that, and not the subclass.
But, since many level 75 folks are level 75, with '100%' towards the next level, most will be level 76 without much difficulty.