anugaman, i also think that if you can get your I 20 before your grace period ends, you will have 5 months (?) time to join the college.  i would suggest to contact your international student office though.  suppose your grace period ends on Jan 6, you have have to have I 20 before that day and you can join school anytime before june 6.  if your class starts after that day, you have to make adjustment by taking kaplan or some classes on community college in spring semester.