Going back to CPT from OPT

USA F1, F2 Visas - CPT - OPT
1

Hi!

I finished my BACHELOR’S in the US in 2012 and have been working for a firm on OPT. I had applied for H1B visa but it did not get picked in the lottery. The F1 visa expired in Dec2014 and my OPT is expiring in August2015.

1.Am I allowed to work on CPT after my OPT expires while studying for my Master’s degree starting in September if the university allows it ?

2.If so, will this cause any issues next year for the H1B?

  1. Will this be a transfer of I-20 or will it be a new I-20 and F1 visa?

Any input will be appreciated!

Thank you

Vaibhav