L2 to F1

[PotentialStudent]

Hi,

I'm currently based in the US on an L2 visa. I've secured admission into a US university for a full-time MBA program for fall 2013. My husband and I have filed for green card and am expecting my GC EAD anytime in the next 2 months. My L2 visa expires next December.

I have the following questions:

1. Is it advisable to acquire an F1 visa in case my EAD runs into issues and my L2 expires?

2. Is it possible to acquire just an I-20 and not file for a student visa. I need to use the I-20 to elicit loans from banks in India.

3. What are the immigration implications in case 2 is possible?