H1b to F1 status change


 I need some information.

I am on H1B visa and my 6 year will complete in Mid March (7.5 months left on my visa). I have an employer who is planning to file my PERM next month (August 2014). So I will be left with 7 months by the time they file my PERM.

In parallel I am planning to apply F1 visa in November 2014 for my Masters and planning to get CPT. If everything goes fine, I will have F1 visa with CPT by end of March 2015, so that I can continue my work with my Masters.

Below are few questions I have,

	  Will there be any impact on my PERM  processing due to status change? Like I said above my PERM will be filed next month when I am still on my H1B status.

	  Can I stay in USA on my F1 even after March 2015? As I will complete my 6 years in US in March 2015.


thanks in advance for your inputs.