xx-nepal, I understand that you are trying to join Grad school and apply for H1B next year. You should be fine as you would qualify for H1B next year because of your Bachelor's degree. Also, I think you could still cancel your H1-B even if you get one this year. If you quit your job, that would mean that you would not be on H1-B status anymore forcing you to go for F1 again. Hope this makes sense. I have heard about many Nepalese getting exploited by these so-called Consulting companies. I guess the key would be to do some research before going for any Consulting company that gives you a call and promises you everything.