This is a complex situation and besides the advise of a competent criminal defense counsel unless you already dealt with this portion the school may very well be in their right to expel you but they surely must have some internal code of conduct or appeal's process by which you can get a hearing perhaps with the provost of the school and contest your internal school's code of conduct violation. I would hire competent counsel now even for the school issue since the school often do not want to get bogged down with a lawsuit and attorneys and may very well backdown and provide for a less drastic punishment short of expelling you. If they did you would be out of status and they would update SEVIS immediately. You may want to immediately file for a change of status to B-2 just to bridge your status OR simply promptly depart the US, and re-apply from outside the US to another school to be able to complete you remaining credit hours/classes. good luck.
I agree with Mr. Calehr
PROFESSOR OF IMMIGRATION LAW for over 10 years -- This blog posting is offered for informational purposes only. It does not constitute an attorney-client relationship. Also, keep in mind that this is an INTERNET BLOG. You should not rely on anything you read here to make decisions which impact on your life. Meet with an attorney, via Skype, or in person, to obtain competent personal and professional guidance.
Look into option of transfererring to another school. Look in book of Student code of conduct, attend school hearing and hire counsel to defend you in school.
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