Unity Pro/team licenses Student and Commerical

My team is planning on buying Unity 4 Pro, Android Pro, iOS Pro, and 3 Team licenses. We are limited financially atm but qualify for the student versions of those licenses. So would we be able to buy one commercial license and the rest student and have everyone work and just build with the commercial in the end so we don't have the student watermark? It'd save us a LOT of money but we don't want to go through with it until we know it'll work. Thanks.