Change of status from H1b to F1

Can I stay on H1B to F1 change of status receipt ?
If I am converting my H1b to F1 visa. My question is can we study on receipt notice also can I legally stay in country on change of status receipt notice till the status change gets approved?
Would be happy if someone who did this change can help me.

Yes, if you have filed it, while you are maintaining H1B status and you can maintain it until your F1 status starts. Yes, you can study, but you may not be able to work on campus. You can work only after your F1 COS is approved.