I'm not sure about the answer.
I will go for option 1 because it is simple and no problem expect money .
But in option 2. , you will on study permit and will be applying for another study permit in another country.
If any question arises asking your present status in SL. Then the VO will be sure that you're not so dedicate towards studies. As you easily changing from One country to another for studies. May affect your travel history too [Because may be you wont be completing the studies in SL.]
Just a opinion. Contact with other seniors too.
Good Luck.