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Lost Job on H1B - Change of Status to F1 and back to H1B possible?

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  • Lost Job on H1B - Change of Status to F1 and back to H1B possible?

    I crossed a hurdle from F1 to H1B in Oct2014 after lot of struggle, but it looks like there are tougher hurdles to cross.
    My employer lost the project, I got terminated from employment on 31st Dec 2015, employer said they won't revoke H1B visa.
    I was on F1 visa, used 29 month OPT (Dec 2011-Feb2014) from college A, then in order to maintain work status I joined college B which gives full time 1year CPT (Feb2014-Jan2015) from day one of enrolling into MBA program, left MBA in middle since my H1B was approved (starting 1st Oct 2014).

    Having mentioned my past and present situation, following are my questions:
    1. Can I go back to F1 visa based on I20 received in 2014 from college B and complete MBA degree? If No, do I need new I20?
    2. Can I come back to H1B visa status if I find another job while I am on F1 visa?
    3. What if I find a job while COS from H1B to F1 visa is still under process? Can I apply for H1B transfer in this situation?
    4. COS from H1B to F1 v/s H1B to B2 - Which one better?

    Any suggestions are welcomed. I appreciate your time. Thank You.

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