H1B extension denied- applying for F1 (MS)

[Shara1]

1. My H1B extension was denied. H1B maxed ( 6 years complete ) out by aug 2018. But perm was processed 2017. Considering the visa situations now, which option is best for me F1 ( I have admits for spring 2019) or re apply H1 extension ( my employer is ready to redo it for me ) 

I am back to home town after my H1 Denied. Will have to apply either H1 extension of F1 from home town.

2. If I go for a F1 visa this December, will my previous H1 rejection effect my F1 approval in any way?

3. As F1 is a non immigrant visa, and my employer filed my perm, how to explain this at F1 visa interview? Will this be a reason for denial? 
I will resign the company before joining the college full time. How to tackle this situation? 

And also, if my F1 is also denied, will this effect my future H1B extensions ?

 

please advise.