H1b to F1 change of status pending

I am currently on H1B which is expiring on 31 May 2013. I want to transfer it to F1. Do I have to leave the country if my change of status is still pending on 31 May 2013?

You can stay for up to 240 days beyond current I-94 expiration date if you have a pending COS. However, check w/ an attorney about how to maintain status as you can no longer work on H-1 after that date, but your F-1 hasn’t commenced yet.