5th Yr H1-F1-Green Card issues

[nyc_roommate]

Thanks a bunch to all you guys who respond back to our queries!

I am in 5th yr of my H1 expiring in Oct-2010. I havent started my GC yet, but could do so soon. I got an MS in Chem. from Princeton (author 2 journal papers) and work in a top Pharma firm in marketing. However, I plan to start an MBA in Sep-2010 and am worried that if I start my GC now, I would be denied an F1 later, which I would need "if I get into an MBA program”. My understanding is that an F1 implies that I “do not” plan to immigrate. Thus, would filing for a GC (implying an intent to immigrate) now prevent me from getting an F1 later due to this conflict?

In general, even if I start the GC process now, do I have enough time left to that I can get an extension on my H1 and continue to stay in the US?

Please advise.

Thanks

[txh1b]

Your concerns about F1 are true. To be able to extend the H1b beyound 6 years, you need to have the labor filed at the least 365 days prior to the H1b period completion. Any period spent outside US on vacations can be recaptured.