Being on H4,  you can't apply for jobs directly, however if you choose to go through consultancies and let them know in advance that you'll be joining them after graduation, they'll easily convert your H4 to H1. Why not to take the reduced tution benefit? However, if you decide to apply for jobs directly then it's better to change status to F1. Take others opinion too. I knew a few people who did so, thus only mentioning.