No, since the scholarship would probably run out and you'd have to shell out the tuition. Also, taking 4 courses isn't too much of a load. 3 courses would be breeze easy. I know several people who did the opposite of what you are asking. They took 5 courses per quarter/semester for 3 years straight so that they could graduate 1 year early, they survived, although they did work very hard.
However, if the lighter load allowed me to work part-time with an employer that I wouldn't mind working for, I'd take that option since in days like these, it helps greatly if you have a foot in the door in the company you want to work for when it comes time for applying for a permanent position.