Last I heard, which was about a month ago, was that she was still in school. This based on a message from some poster on Grizzlyboards.com who's source was from Selvig's wife, I think. I sure hope that info isn't out of date. As long as she is in school and grades are good, should be playing next year.
I hope she is able to play next year. Two years from now, could have another pair of awesome point guards, like we do with Lorenzen and Montes. Instead it will be Kayla Lambert and Michela Schmitz, or maybe both play guard along with Katie Edwards in a 3 guard lineup.