The F-1 visa is a document required for entry into the United States. Once you are in the United States your status is dependent on your maintaining the F-1 status with a valid SEVIS Record. The SEVIS Record is reflected in your printed Form I-20.
Therefore you may remain in the United States with an expired F-1 visa as long as you continue to maintain your F-1 student status. We will update your SEVIS Record when you complete your program of study to reflect your program end date and your Post-Completion requested dates which will reflect your continued F-1 status.
You may continue to remain in the USA after your F-1 student visa expires. You will need to apply for a visa renewal the next time you travel after your visa expires.
— Mindy Ward, Senior ISSO Adviser (DSO)
Hey all, if you are graduating and concerned about accumulating 90 days or more of OPT unemployment which cause a violation of your F-1 status, my friend and SCAD Alumni Ginger Tontaveetongruns runs a volunteer program at ASIFA-South which counts for OPT: