Does 221g on H1B (ongoing) affect applying for an F1

Hi Sir,

My H1B went under 221g and it is 6 months now. We have submitted the required documents, but have not received any communication from the consulate till date. Meanwhile I asked my employer if they can revoke the stamping application but they showed no interest in doing so. My queries, however, now are:

  1. I am planning to apply for F1 next year for Fall admission as per my long awaited plan. Is my 221g going to affect this VISA processing?

  2. My employer seems reluctant to revoke my ongoing 221g and my H1B petition will expire in 5-6 months.

Could you please suggest a way out?

Experts, this is urgent. can you please answer?