1. the grace period will be 6-9 months after u graduate law school, depending on your lender.
2. hmm, this is tricky, your law school, mine did anyways last year when i started, refused to fill out the deferrment form for me until they got my loan money, which wasn't until July or August.
The rates are:
In-school, grace, and deferment status = 4.75%, up from 2.875%
Repayment status = 5.37%, up from 3.37%
Your law school's registrar and financial aid offices deal with this crap every year, so im sure they know. i would give them a call.