F1 & H1B approved simultaneously, implications of one on another

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So, I have recently applied for masters & I got admit and i20.

At the same time, I also applied for H1B Visa through my employer and it got picked but didn't receive receipt confirmation yet.

So, wondering if I can schedule F1 Visa interview now and if F1 Visa is accepted or approved, will it have implications on the H1B Visa status.

Can someone suggest me on how to approach in this situation.

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What is it you want? Assuming the college is reasonably well known your chances of getting the F1 visa are good if you indicate you turned down the H1 chance in order to further your academic cred. Of course, be aware the VO has seen it all and can recognize sincerity or something else.

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