F1 after i-140 approval

[DrStupid]

Current Situation:

1. 2 years MS in US
2. backlogged countries (so almost no chance of GC for next 30 years)
3. I visit my home country every 1 or 2 years for 1 month
4. I applied for Ph.D (top 6 Univs) during end of 1st H1B and got rejected as I had a major accident and I could not submit many of my applications on time and many with some missing letters and/or a half-baked applications) - This is the reason why I continued to be on H1B as I was recovering from injuries and took me 2 years to recover and my GRE had expired meantime .
5. Work (same company)
   1. 1 year in OPT US
   2. Then H1B-US
   3. Currently - last year on H1B
   4. I-140 is about to be approved in couple of weeks.

Future:

1. I always wanted to do my Ph.D and be a researcher
2. Now when I was looking to study for GRE only I realize I was dumb to apply for i-140. (cant stop now becoz I havnt started my application process yet)
3. Cannot study Ph.D in part-time (univs wont allow it and work also wont allow it)
4. Cannot stay in US for 4 years of PhD (through Change of Status) ( i want to visit home every year)
5. Basically what I want is to work for 2 years in US while I study/apply/get admit in good Univ, get PhD, work for a few years in research and then settling back home in research position.

I had no idea that i-140 is an immigrant intent that will risk by Future F1 (just learning about it). The company wanted to retain me and they asked me about GC and I said ok (at this time all i know was i-140 will allow you to extend your H1B i did not know about that intent thingy. I din think about actually getting GC).


Any suggestions guys?

[WFellow]

Hi DrStupid, I have similar plans. Were you able to change to student status. Need help.