A few things that are big red flags to me...
1. The conditional offer. To get a visa you need (correct me if I'm wrong, Vicky) an unconditional offer.
2. If the program is a year, you need a full student visa, not a student visitor visa.
3. To get the visa, you'll need to prove financial stability. This can be through student loans, but you'll need proof of approval, and it helps to have a chunk of money in your bank account to cover the time between when you land and when the money becomes available to you (usually about 3 or 4 weeks after the funds are disbursed from the US-based lender).
Once you have an unconditional offer (if it's a matter of grades and references, it's best just to handle this all by post), you'll accept it and apply for the loans. Once it's all approved, and you have documents saying that you'll have $XX,XXX loaned to you, and a schedule of fees from the university (basically saying how much of that loan money they'll be taking), you'll have a pretty easy application.
The basic problem with what you did is that you can't convert to a student visa in-country. You were trying to come on a visitor's visa, get the unconditional offer, and then suddenly have a student visa. Doesn't work that way... you have to get the visa from your home country and then enter on it. Because you showed intent to stay for the full year, it's no wonder they bounced you. (The visitor's visa would only allow you in for 6 months.)
With the biometrics requirements (which I'm guessing you haven't done yet), it's very unlikely that you'll have a visa sorted by next Friday, especially if you don't have financial aid and unconditional offer in hand.
Get the paperwork in order, submit the visa, and (I'd guess) plan on a January start.