Urgent- OPT to F1 Status- Grace period

[nycharan]

Hello
My OPT is expiring on Oct 24 and am currently working. I could not apply for H1 this year and am looking to convert back to full time F1 and do MBA. Can I apply for Spring 2013semester and get an I-20 by October and continue to work until my OPT expires(October 24). I don't want to waste my OPT and become a full time student in August this year. I just want to complete by OPT in October and convert to F1 from January 2013. Will I be out of status in the interim and is it legal to stay in US.

Any help is much appreciated. Thanks

[nycharan]

Any Help ?