Advice on graduation date May or August 09

[coolenigma]

Hi. I am currently in the 2nd year of my MS degree and have the option of graduating in May 09 or August 09. I am having trouble deciding which graduation date would hurt me the least. Here's my situation

Scenario 1
May 09 Graduation
Graduating in May 09 means that I graduate early and hence avoid the extra living expense for an additional four months. More so because from the start of my program, i have been unable to secure on-campus employment at my University so i have fully relied on funds from home.
I plan to start OPT sometime in July 09, hopefully get placed and have my H1 filed in April 10,
problem is H1 approvals come in October and in this scenario my OPT would be ending in July 10. What options do I have to maintain status before OPT approval? i'm putting into consideration a worst case scenario where the company is not e-verified and hence i dont qualify for stem extension.

Scenario 2
August 09 Graduation
Graduating in August 09 means I spend an extra 4 months of living as a student and supporting myself. Would potentially start OPT in September 09, have h1 filed in April 10, OPT expires in Sep 10 and H1 approval comes in Oct 10. this seems to be a better option. only problem would be the additional 4 months living expense which I would really love to avoid.

So my question is is there any work around for a May 09 graduation. please put into consideration that my potential employers might not be e-verified.

Thank you.

[kabkaba]

search for H1B cap gap. Even if you OPT ends before October, if your H1 has been filed before that (in April) the gap between OPT expiry and October 1 can be filled. Your university DSO will help you with that.