Quite a bit to consider...
I am currently a US PR. I married my wife who is currently F-1 status; she is still attending school full time. We have filed for her I-130 petition and approved. We are currently waiting for her priority date to file for I-485.
However, as we're waiting for the priority date to come, everything seems to be on hold. We are both getting older and would like to have children soon - we don't want to be 70 years old and our kids are still in high school. Just wondering if anyone knows:
1) what's the status of the newborn?
2) What will my wife's status be when she has the kid?
3) Will she get to stay here? I don't think I can handle a full time job and a kid without her.
How long has she got left until graduation?
Could she continue to be an F-1 student with a baby?
How long have you got until you can file for naturalization? And would you qualify?
If your child is born in the U.S. it will be a US citizen.
If your wife gives birth abroad while waiting for a visa, the child will be added to the I-130 and will get a visa.
If she gives birth abroad after getting a visa, the child will also enter as an LPR.
If you naturalize before the child is born and the child is born abroad, it is very likely that the child will be a USC at birth.
If you naturalize and then the child is born abroad, the child will require an I-130 if not a USC but it is among the variety that can be done at the embassy/consulate and expedited in order for the mother an child to travel together.
If you naturalize soon she will be able to file for adjustment without leaving the U.S.
If her priority date becomes current while still in a valid status she can file as the spouse of an LPR.
If she overstays her valid non-immigrant stay by 180 days then she would trigger a bar to re-entry and require a waiver if she leaves the U.S. (even to Canada or Mexico).
If she overstays her student visa and you don't qualify for naturalization, she will be screwed and be forced underground.
If she overstays and you naturalize she will then be able to file as an immediate relative of a USC and could not depart until she gets approved for a green card or else she would face the same re-entry bar.
How healthy are her parents? Could she be a in a position of having to return home for an illness or funeral?
It's a heck of a lot to think about.
Caution: Failing to Plan = Planning to Fail.
Be prepared to be a part for a while but it won't be forever.
Could you two put off having a child and maybe she could get an employment based non-immigrant visa while waiting for you to naturalize or for her PD to become current?
See a lawyer if you have to.