H1B cap clarification

[Kap12345]

Can I shift from F1 to H1B half way through the course?

Here's my status:

Dec 2006 - Entered US on H1B

Oct 2008 - Transferred to another employer

June 2010 - Filed for extension (Got extended petition till Dec-2012)

Oct 2010 - Travelled India.. stamping was due but visa was not stamped.

Jan 2011 - Got rejection letter from US Embassy, Delhi

Wasn't too desperate about coming back so never tried again and started working in India

Jul 2012 - Came back to US for MBA on F1. Completed one year and one year is remaining

However, due to some unexpected financial circumstances I am thinking about taking a break and working to help raise funds for 2nd year else I would have to completely leave program mid-way which would be devastating. My university is very reputed but does not allow working while taking a 6 month-1yr break from school.

My questions are:

1. Can I go from an F1 to an H1B? (considering my program is only half complete)

2. If I can shift to H1B, Since I have previously stayed in US on H1B for 4 years, if I file a new H1B would that be part of H1B cap or cap exempt? (I believe my employer had revoked my previous visa after I could not secure stamping)

3. If it is cap exempt, do I need to go with the same (previous) employer or anyone can file a visa?

Answers to these questions AND any other general advise to help my situation are welcome.

Cheeers

[t75]

If you are eligible for cap exempt, you can work for anyone. The issue is the reason for your rejection; based on the limited information you provided, it may or may not be a problem.

I am surprised you received F1 if you did not have sufficient funding for the program. I hope you did not falsify financial documents.

[Kap12345]

Thanks for your response. The one line reason mentioned on the rejection letter was:

"Your employer is either not willing or capable of providing you employment in the US"

I had a scholarship covering most part of the program which I would not get for the second year as I missed my GPA target by a few second decimal places. Its a miss nevertheless, and school is insisting on going by the rule book, hence the additional financial burden.

I can offcourse try shifting to a lesser expensive and lower ranked school, but that beats the purpose to coming to this one at first place.

Based on the above reason for rejection and the fact that I have used 4 years of my previous visa, can I apply for an H1B that would be cap exempt?

[Kap12345]

I would appreciate if someone could please respond to my query.