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One thing that helps at least is that the H1B lottery cap doesn't apply to students who got a graduate degree in the US. ie there are unlimited H1B visas for people in that boat.

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It is not unlimited, but there is a separate lottery for 20,000 visas for advanced degree holders.

...and the unselected ones from this lot get one more chance in the general pool of 65000

Is that already a law?

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