score:2
Congratulations!
Your visa will not be extended without you applying at a consulate. However if you supply the proper documentation to the international students' office at your university they will extend your I-20, thereby giving you legal status to remain in the country. If your visa has expired and you leave the US (to a place other than Canada or Mexico) you will require a new visa to re-enter and pursue your Masters.
If you choose to join another university, the same thing applies - they will issue you an I-20 which will give you legal status in the country. You can remain in the country with an expired visa and a valid I-20 A new visa is not required unless yours is expired and you exit and re-enter. You can apply for a new visa with the new, current I-20.
Also see internationaloffice.berkeley.edu/students/current/transfer_out