Layoff - H1B Transfer Approval?

[addepalli]

My scenario - I recently got laid off by a media MNC in NJ from a full time business analyst role. I am currently on the grace period and have been looking for both full time and contract positions. If I do not land a contract position -
1. What is the scope of h1B transfer approval without getting a project in hand?
2. If the h1B transfer is approved to a Indian IT consulting firm (say without a project), what do I need to take care in order to travel to and back from India? My marriage is on March 15.
3. If the h1b transfer is NOT approved, then what is the best course of action to stay back in US? (if F1 is an option, can you suggest any univs who can admit now?)
4. Any one else in the same boat?

Thanks,

[txh1b]

1. Very miminal chances as USCIS has been very careful in issuing RFEs for clarification on such cases.
2. You should get paid from the company from day 1 of your joining irrespective of the project. If that is the case, no issues.
3. It is too late for spring semester for a switch to F1.
4. Probably tons.