Grade reports are one thing that students no longer have access to, once their status as student is made inactive. It seems that they could still have access to that without hurting anything.
We had one class that added course comments after grades had been finalized and the term was wrapped up. I had inactivated all non-returning students and had to reactivate them in order to see their grade reports -- now I need to remember to deactivate them again within a reasonable amount of time. It would be so much nicer to not lose this option in the first place. Another reason not to turn it off would be for those students who are out of e-mail contact, or have no ability to print, say they are on vacation or honeymoon, etc. right after school ends. When they return and want to print, they can't.
Thanks for considering this change.