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it should according to new rule
Under this rule, the F-1 status of students is automatically extended when the student is the beneficiary of an H-1B petition for the next fiscal year (with an October 1 employment start date) filed on his or her behalf during the period in which H-1B petitions are accepted for that fiscal year.
The automatic extension terminates when USCIS rejects, denies, or revokes the H-1B petition.
If the H-1B petition filed on behalf of the student is selected, the student may remain in the United States and, if on post-completion OPT, continue working until the October 1 start date indicated on the approved H-1B petition.
The student may benefit from this provision only if he or she has not violated his or her status.
Lets hear from other people who knows more..though
