F-1 visa renewal- Tricky situation. Suggestions needed.

[Gradla]

I am about to complete my Ph.D. in another year. I came on a F-1 visa for my Masters. Since it was a five year visa, I never applied for a new visa after joining a different school for my Ph.D. With my first visa I have traveled to India twice. It has been little over 3 years my first F1 visa expired. I plan to visit India in December to get my visa renewed. Also, I plan to get back to India finishing my degree, but I still have some work to finish my degree.
Any suggestions? Should I take my chance for renewal? or Should I just finish my degree before I go home?
You suggestions are extremely appreciated.

[back2life]

I am about to complete my Ph.D. in another year. I came on a F-1 visa for my Masters. Since it was a five year visa, I never applied for a new visa after joining a different school for my Ph.D. With my first visa I have traveled to India twice. It has been little over 3 years my first F1 visa expired. I plan to visit India in December to get my visa renewed. Also, I plan to get back to India finishing my degree, but I still have some work to finish my degree.
Any suggestions? Should I take my chance for renewal? or Should I just finish my degree before I go home?
You suggestions are extremely appreciated.

Could you provide an update for your situation?