As long as you "timely file" - apply for the change of status before the current status expires - you can remain while the change application is pending.
Speak with a lawyer and/or the school issuing the I-20 for guidance on the process.
I agree with my colleague.
J Charles Ferrari Eng & Nishimura 213.622.2255 The statement above is general in nature, as not all the facts are known. You should retain an attorney to review all the facts specific to your case in order to receive advise specific to your case. The statement above does not create an attorney/client relationship.