USCIS has issued questions and answers addressing the automatic extension of F-1 student status in the United States for certain students with pending or approved H-1B petitions (indicating a request for change of status from F-1 to H-1B) for an employment start date of October 1, 2009, under the FY 2010 H-1B cap.

The Q&A states that the automatic “cap gap” extension begins once a timely H-1B filing has been made. If the student’s H-1B petition is selected and approved, the student’s extension will continue through September 30, 2009, unless the petition is denied or revoked. If the student’s H-1B petition is not selected, the student will have the standard 60-day grace period from the date of the rejection notice to prepare for and depart the United States.

The Q&A, which contains additional details, is available here.