h1b expired, can I go on F1?


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My 6th year H1B will be expiring this November 2012. My labor is on audit and we have responded with the required documents during the last week of Jan 2012. I am not sure if my Labor will even get approved or denied. If it gets approved, I know that I am eligible for an one year extension. But just in case it gets denied and I will have to appeal to the DOL and it's again a long waiting time. It can be upto 2 years and after 2 years it's possible that I might hear a bad news. So I was thinking, just in case I don't go for an appeal, if my labor get rejected and then go on F1 Visa. Am I eligible for a new H1B after one year? Or is it mandatory that I will have to leave the country for one year? Please help me understand. Thanks.

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