The thrust of this study was to investigate stress implications of working and studying concurrently and strategies for coping with the stress among students in the University of Education, Winneba, located in the Efutu Municipality of the Central Region (Ghana). Utilizing the interpretive paradigm, this study employed a case study approach. Semi-structured interview guide was used to gather data from MPhil students. Twenty (20) participants comprising 10 first year MPhil students and 10 second year MPhil Students were sampled. The study identified financial difficulties as the major reason why students combined their academic activity with work activity. The study indicated that the stress implications of working and studying concurrently were; high blood pressure, restlessness, headaches, back pains and loss of appetite. The study further indicated that the students coped with their stress by exercising regularly, checking their diets, absenting themselves from work and school to rest, and being assertive. Based on the findings relating to the stress implications of working and studying concurrently, it was recommended among other things, that students' work situation should be factored into time-tabling, counselling programs should be organized for the students and scholarships, bursaries, grants and loans should be made easily available to the students.