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After you submit your changeing visa status to BCIS, you are leagal to stay here even your H1b expires later. You can either choose to continue working or stop working before your F1 visa is issued. You'd better to ask the international officer in the school which you are going to attend and see if you can start studying before your F1 is issued. As I know the policy in some schools is you can not start to study before you get F1 visa.You need to check if it's true?