Hi,
I have been working as en engineer in the United States since 2005 (after getting my masters in eng. from here )and my H1B expires in 2011. I also intend to apply to B school for 2011. It also so happens that my company is starting the GC process around this time (Nov 2009). I have heard that once you file for your GC petition, you cannot transfer to a F1 visa. In my case this means that, even though I will get admission from US colleges, my F1 visa will not be issued because I have already shown an intention to immigrate (by my company filing for my GC) and F1 is purely for foreign students who make the case that they will return to their respective countries on completing their degree.

Is anyone else in a similar soup of this nature and what did you do about it?

Also on a tangent, how will my college application be considered, would I be weighed against the applicant pool from my home country (in my case India) or would there be any credit given because I have already been exposed to the education and work experience in the US and hold an advanced degree?

thanks for reading!