My F-1 will expire in February 2012 and I am travelling to Nepal in and December (will return to US on 28th dec).  Since my f-1 will expires in 2 months while I re-enter, will that be a problem at the airport?  Has anyone experienced it or had any problems?

Please share.

No problem at all bro. If u want u can stay in Nepal till end of Jan. But be sure u will be back 3 days before your visa expired.

champ is right. let me make it more clear, you need visa just to enter the States. as long as your visa isn't expired, you won't be stopped anywhere. after you enter, your I-20 is the key, i.e. as long you have a valid I-20 and you are maintaining your status, you can live tenson-free. but be prepared to apply for a new visa next time you go home (anytime after Feb 2012) because you'll need one to enter back.

 Like has already been said, visa is only a green signal to enter the United States. As long as you have a visa, you should have absolutely no problem, provided that you don't have any pending criminal charges that is. If you did, then they will still let you in, allow you to serve your time and then you'll be deported back. Hope that helps. 

Thank you all for your comments....

 On a different Note.
Please carry the financial documents when coming from Nepal these days. I've heard many instances where Officer at Port of Entry has asked to show Financial Proof for F1 Students.

 Make sure you Passport doesn't expire within 6 months at the time of re-entry. You are good to go otherwise!

La Moj gara mitra.