Subscription renewal after no longer a student

Yes, the grace period (for verification of your student status) is six months:

"You can validate your status with proof of enrollment such as your school ID card, report card, transcript, tuition bill or statement, etc. Any documents dated within the last six months are considered current for these purposes."

[Source]

To avoid early cancellation fees, wait until your 12th month of service to cancel.

Set a reminder on your mobile phone or Google calendar so you don't forget.

from https://helpx.adobe.com/x-productkb/global/graduation-education-discount-expiry.html

Adobe provides an education discount on Creative Cloud All apps plan. This discount is offered exclusively to enrolled students and university staff. After a student graduates from school, the student receives a grace year on the education price.

Graduated students receive an email notification about the upcoming price increase thirty days before the contract renewal date.

The notification includes information about:

Upgrade price
Upgrade date
Education status verification link to confirm student status and an extended student discount
Link to Account Management where you can manage your subscription

If the education status is not verified after the grace year, the subscription is upgraded to a higher non-education price on the contract renewal date.