H4 to F1 conversion when H4 extention is pending.!!!!

[aapkagan_uvce]

Hi Guys,

My wife is planning to change her visa from H4 to F1 from her second semester of the college i.e from the month of January 2016.
Her current VISA status is "H4 pending for approval" with my H1 extension. She has got receipt number for the extension.
Now the concern is , can she travel to India to get her F1 (student) visa stamped? University will be giving I20 form as supporting document.

Thanks,
Ganesh