I mean, its splitting hairs really. You have to expend the GP to do the training that actually gets you the next level, without that the XP is just a meaningless number on your sheet (by RAW). In effect you 'buy your XP' (roughly, the costs don't exactly track, as there are some mid-levels where the costs are significantly less than the XPs you need, which pretty closely track actual GP recovered since about 95% of XP comes from GP normally).
So, yeah, its not an exact statement, but its not too far off. As for 'current level' this is true, though really it all depends on that crucial GM rating factor, lol! Remember to retain all decimals as each 0.145 factor represents another day of training required! ROFLMAO! Did Gary honestly think people would EVER stand for that?