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Can I have a valid H-1B and F-1 visa at the same time? In my case, I'm currently working on a H-1B visa and seeking to get a F-1 visa for my further studies. Is it possible to continue working part-time along with my graduate studies?

You may not need to change your status to an F1. You may pursue further studies while on an H1B visa as long as the primary purpose for your being in the U.S. is the H1B employment. You can also work part-time on the H1B visa as long as an amendment to the H1B petition is filed and approved. If you do decide to change status to an F1, then you would have to be a student full-time and may not work (except under very limited circumstances).
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