M1 Visa new i-20

[Puvvada]

Hello , 

I am from India. I came here in Feb on an M1 visa doing a course in  Makeup school in LA. My course duration is only for 5 months so apparently I should be done by July 18th, 2020. Due to the COVID situation, my school got shut down without having an online class too. They have kept on postponing the opening date as the government decided to close down everything again. So I couldn't go back either. My I-20 has got expired on July 18th. I have approached my school about this issue and they have asked me to apply for a new i-20 and have terminated my old one. Is it ok if I have a new i-20 and stay here and wait till my classes start? If they are applying a new i-20 then will it be an issue with the visa that I am currently holding? I don't want to stay here illegally and have an issue if I ever want to apply for any other visa to come back to the US. That's my main concern and the other thing is that I am not feeling so safe to travel back to India during this situation within just two weeks. I hope you will help me out with this. Thank you so much.