Techguy,
Thank you for your suggestion. I made up my mind to go back to Nepal whether I have valid visa or not. I will apply there as you said and will see my luck. If I am lucky (visa denied), I will be staying back with my family happily and enjoy there rest of my life, and if I am unlucky, I will have to come back and again have to worry for the status and will have to struggle again for paying all debts (credit cards, auto, home....... so many). ..... whatever.............

To change the status from B1/B2 to F1, its so easy in Virginia (I don't know about other States). Just go to one of the private school or language institute and ask them to get admitted there. They will ask you all the supporting documents including financial support and academic certificates (please be careful that some institute might verify the certificates with the University). Submit all the documents they ask, and wait for the change of status confirmation from USCIS. That's it. If you still have doubts, let me know.