Change of status from H4 to F1 when H4 renewal is pending.


I am currently on H4 visa and studying in one of the universities  in USA. Now I want to change my Visa status to F1. I know the procedure to change the status but since my H4 visa renewal status is pending and I want to get my F1 Visa by Jan 2013( i.e in another 4 months)  to get assistant ship in the school, I was concerned whether to apply for COS now or to wait until my H4 status get approved. Could some one let me know if I can apply for COS to F1 while H4 renewal is in pending state?

Thanks for your time in advance.