H1B to F1 unused portion question

[Aditya Binaykia]

Hello folks,

I am recently moved from F1 to H1B (approved in July 2012 and stamped in Jan 2013 - I have an H1B till July 2015). However, this August I plan on moving back to F1 again to go to school.

I have a couple of questions here:

1) Is there something I can do to use my H1B later or will the extra 2 years that will be unused be wasted?
2) Once I finish my second master’s degree am I eligible for another 6 years of H1B or lesser – since I had three years approved this time around even though I am using only 1 year out of the three. I do not know if I will be with the same employer or not.

Please let me know what I could do best here.

I am hating having to waste 2 years of H1.

Thanks,
Aditya