My son Sam, who's six at this writing, started saying something and I corrected his grammar until I thought about it. The thing is, I think he's right.
Consider:
They aren't
We aren't
You aren't
He/she isn't
What should be rule be for "I am not"? Logically, it should be
Obviously, if not the preferred contraction, it should at least be acceptable. So I've started using it in conversation. Join me. Repeat to yourself,