@mangale: I dont think so. Once you apply for TPS, there is no way you can change the status. You better apply for F-1 at first, get approved. And then apply for TPS. You can only adjust the status. Now, when TPS ends, you can come back to F-1 as long as you maintain your original status.

(Ex. B1/B-2 applied TPS. So you are in TPS. Can you join school - Yes. Can you apply for F-1 - Nope, you can't change the status on TPS. Very similar to F-2. )