I got accepted into grad school, and now the money comes into play. The co. I work for will reimburse after proof of passing (and that will take 6-10 weeks at the end of their fiscal year), but their reimbursement does not cover what each credit costs not to mention all the fees associated with school. SO, I am trying to figure out how to avoid charging it to a credit card, but here is the kicker, I'm only going part time-- one class a semester--the program is actually set up for that. Can I still get a loan? And if so, do I ask for total 4 years worth or is it semester by semester?

Yes, you should be eligible for a loan since one class in graduate school is usually considered half time status. Regardless of the loan amount you ask for, it will still be disbursed in at least 2 disbursements and you will not receive more than a graduate student is allowed each year. The annual loan limits are $8500 for Subsidized loans and $10,000 for UnSubsidized loans.