SteveMcQ said:
Does the grace period only apply to post-graduates? How about if you're headed back into college the upcoming semester when you're off this semester?
"Higher Education - Faculty and staff of Higher Education institutions; and students attending,
or accepted into a Higher Education institution are eligible to purchase. Purchases from the Apple Store for Education Individuals are not for institutional purchase or resale."
So "headed back to school" would be valid if you have some proof you are registered and accepted for the upcoming semester.
Your eligible period woud be to the expiry date of your student card, so if you complete courses in May but the ID card says you are a student 'til December, then you are (that was the case on my ID anyway).
The "grace period" is not in the terms and conditions, it sounds more like a policy of making an exception -- you would need to call Apple and get that from them directly.
Then, here's the chapter and verse if you zoom Apple on the facts:
"AUDIT RIGHTS
Apple routinely audits the purchases of customers at the Apple Store for Education to insure that only eligible purchases have ordered and that all purchase conditions have been observed. Should an audit disclose after delivery (or should Apple otherwise discover) that you were not an eligible purchaser at the time you placed your order or that you have not observed all of the conditions applicable to your purchase, you authorize Apple:
* If you placed your order by credit card, to charge to your credit card the difference between the amount you paid for the delivered goods and the price that Apple charged the general public for the same goods at the Apple Store, in effect on the date that you placed your order; and
* If you paid by a means other than credit card, to (a) invoice you for the difference between the amount that you paid for the delivered goods and the price that Apple charged the general public for the same goods at the Apple Store, payable in fifteen days from the date of the invoice, and (b), should you fail to pay the invoice when due, institute legal action against you in a court of competent jurisdiction, with the prevailing party entitled to attorneys' fees.
* Should Apple not offer to the general public the specific products that you purchased at the Apple Store for education, your credit card will be charged or you will be invoiced the difference between the amount you paid for the delivered goods and the price that Apple charged the general public for the closest equivalent goods at the Apple Store, in effect on the date that you placed your order."