as for as I know, as long as you are going for higher degree, you are eligible for another OPT. In you scenario since you are going from bachelors to masters, So you are eligible for another OPT in masters.
The OPT approval usually may take anywhere between a month to three months, there is no definite time I think, atleast that was the the scenario while I was doing my masters. Usually they advice you to apply at the beginning of the final semester , since you can apply 120 days before your...
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