Travel to India with H4 and I20 and back on H4 without COS to F1

Hi

My wife is doing MS course in US. She is currently in US on H4 Visa.

 

She is planning to go to India for vacation. As we are planning to apply for her change of status from H4 to F1 after her arrival in US, we are thinking of requesting I20 to university which is pre-requisite for applying F1 visa. This will reduce time to apply for F1 visa after her arrival in US.

 

Will there be any issues travelling to US on H4 with valid I20 ?

I have the same question. I am on H4 visa and have a valid I-20. I do not wish to apply for F-1 visa now, but in January,after I am back from my vacation in India.
Can I do that?