F1 Visa Renewal: Does my current F1 Visa get canceled if I get rejected for F1 renew?

[simkeyur]

I entered US in August 2010 at Ferris State University for BS in Telecommunications Engineering as major. Then after 1st sem, I transferred to UTA. Right now I am a student here at University of Texas at Arlington since last 3.5 Years. I am pursuing BS in Software Engineering with almost 3.0 GPA. My Visa is expiring on 14th May 2015. I have my brother's wedding to attend on 20th May. So I might need visa to re-enter US. Also, I am short of 2 classes to graduate after my Visa gets expired, i.e I will graduate in August 2015. I have my I-20 till December 2015. I also did a summer internship at very good(branded) IT Firm in Summer 2014. I am planning to renew my F1 Visa in December 2014 when I visit my family.

If by any chance I get rejected, will they allow me to re-enter US based on my previous Visa, coz I have heard that they cancel my Visa if it gets rejected?
Also what are chances for my Visa Renewal?
Have I raised any immigration flags that can cause rejection?

[YYY]

Hi I have a very similar situation with you. I will have to travel home for my sister's wedding with an expired visa, so I am thinking to renew it early now when I am spending summer time at home now. Can I ask how your visa renewal turns out, and that if you get renewed or rejected? Did it jeopardize your current visa? Thanks a lot!

I entered US in August 2010 at Ferris State University for BS in Telecommunications Engineering as major. Then after 1st sem, I transferred to UTA. Right now I am a student here at University of Texas at Arlington since last 3.5 Years. I am pursuing BS in Software Engineering with almost 3.0 GPA. My Visa is expiring on 14th May 2015. I have my brother's wedding to attend on 20th May. So I might need visa to re-enter US. Also, I am short of 2 classes to graduate after my Visa gets expired, i.e I will graduate in August 2015. I have my I-20 till December 2015. I also did a summer internship at very good(branded) IT Firm in Summer 2014. I am planning to renew my F1 Visa in December 2014 when I visit my family.

If by any chance I get rejected, will they allow me to re-enter US based on my previous Visa, coz I have heard that they cancel my Visa if it gets rejected?
Also what are chances for my Visa Renewal?
Have I raised any immigration flags that can cause rejection?