這樣做公平麽？請大家幫助，提出意見。謝了

I am an international graduate student. My current I-20 (issued on July 26, 2003 by the new system) is from 08/2001-05/2004. I thought it would be ok as long as I graduate before 05/2004. Therefore, I did not apply for graduation although I finished all courses required for my degree in May 2003. And I just registered 9 credit hours this fall semester 2003 to keep my F-1 status.

Today (October 13, 2003) school told me that I had a very serious problem that I am out-of-status because I supposed to graduate immediately after I finished all required courses. But I did not receive any information from school saying that I must graduate immediately after I finished all required courses before.

My question is that if it is appropriate for school to record me out of status. It is not my mistake and why should I be responsible for this mistake to be recorded as out of status?

The second question is what effect will be if there's out-of-status record in my file, will that be a big trouble for my next entrance to USA and for applying for a green card?