Urgent advice needed

My friend is waiting for the result and his student visa is going to run out soon. Now he will be applying for extension to obtain the result and attend the graduation ceremony.

1. Would HO give him student visa or visitor visa?
2. If they give him visitor visa then he will loose the right to apply for PSW from in-country?

Please advise.

Could HO give student visa under Code 3 which prohibits employment? What about dependents?

"27.8 Leave to attend graduation
The additional leave, granted to a student after their course has finished, should besufficient to allow a student to attend their graduation. However there may beinstances when the graduation takes place on a date beyond the additional 4 months already granted. If this happens the student will need to apply and satisfy the requirements of the visitor provisions of the rules for any leave to remain beyond the additional 4 months already granted. If successful, leave to remain is granted on code 3 which prohibits employment"

Should he mention that he would like to apply for PSw once he gets the result? Would HO think it as a intention to stay?
Please with knowledge on this issue advice.