H1B-F2 based on wife's I-539 case receipt - URGENT

[visamail64]

I am on H1-B visa right now and my wife is on H4.

She filed for Change of Status to F1 and the got the receipt for I-539 from USCIS on October 5th 2016.
I am being laid-off by the end of this week (Oct 28, 2016).

1)How will it affect my wife's chances of getting her F-1 visa, because her current H4 will become invalid starting Oct 29, 2016.
2) Can I apply for F-2 visa based on my wife's USCIS case receipt next week to avoid going to out of status? If Yes, how easy is it to move back from F2 to H1B?
3) Do I have to wait for F2 to be approved to move back to H1B? Will it be cap exempt as the current H1B went through lottery process?

Thanks for your time!

[raghvi]

I am on H1-B visa right now and my wife is on H4.

She filed for Change of Status to F1 and the got the receipt for I-539 from USCIS on October 5th 2016.
I am being laid-off by the end of this week (Oct 28, 2016).

1)How will it affect my wife's chances of getting her F-1 visa, because her current H4 will become invalid starting Oct 29, 2016.
2) Can I apply for F-2 visa based on my wife's USCIS case receipt next week to avoid going to out of status? If Yes, how easy is it to move back from F2 to H1B?
3) Do I have to wait for F2 to be approved to move back to H1B? Will it be cap exempt as the current H1B went through lottery process?

Thanks for your time!

1. How is she showing funding for her F1?
2. Technically yes.
3. Yes you have to wait, or you can cancel the COS to F2, leave US, and re enter on a valid H1 visa along with a approved H1 I797.

This is my opinion not legal advice.

[visamail64]

1. How is she showing funding for her F1?
2. Technically yes.
3. Yes you have to wait, or you can cancel the COS to F2, leave US, and re enter on a valid H1 visa along with a approved H1 I797.

This is my opinion not legal advice.

Thanks for your quick reply. I showed my bank statement covering funds for more than what is needed in the F-1 OPT, and my employment letter and paystubs.

[raghvi]

Thanks for your quick reply. I showed my bank statement covering funds for more than what is needed in the F-1 OPT, and my employment letter and paystubs.

But those will no longer hold value as you would be out of job soon.

This is my opinion not legal advice.

[visamail64]

But those will no longer hold value as you would be out of job soon.

This is my opinion not legal advice.

Yes, but I am attaching my current bank statement covering expenses for Wife's education and for my F-2, along with a cover letter explaining why I am changing status from H1B to F-2.
If I can show the funding through my bank statements, it shouldn't be a problem right?

[raghvi]

Yes, but I am attaching my current bank statement covering expenses for Wife's education and for my F-2, along with a cover letter explaining why I am changing status from H1B to F-2.
If I can show the funding through my bank statements, it shouldn't be a problem right?

If they see it as a genuine request and see sufficient funds it will be approved.

This is my opinion not legal advice.