Timing of MBA Loans

All - I was wondering about MBA Loan Financing. I'm not sure if this is the norm, but I just had this thought about taking out loans.

A lot of assumptions I read about start off with borrowing money at the start of an MBA program (for this case, let's say ~$200,000). However, schools don't ask for the whole tuition payment upfront, correct? Don't students pay annually?

In some cases, I have seen schools with trimester schedules with different tuition due dates. In such cases, would it make sense for a student to borrow money when he/she needs it (ie, taking out the loan a week or two before the due date)? This way, you avoid accumulating interest on money you don't immediately need.

This could be significant, as ~6% interest on $100,000 is $6,000 (assuming you use $100,000 per year for tuition and other fees).

I understand that this assumes you'll be qualified for the same rate each time you take out the loan when you need it, which may not be the case (as each credit inquiry negatively impacts your score). But I wanted to get everyone's thoughts on this - is this what people do anyway? Or is there something that would prohibit one from doing this? It may affect the way I look at total loan costs and payback.