Question about a third H1B visa

[curiousincalcutta]

Hello,

I worked on an H1B visa for 6 years, and then went to school to get an MBA. I had always planned on going back home after that, because of which I never applied for a green card. But I did not realize that I would end up spending as much as I did on school.

My old employer is willing to hire me back, and I am considering working for another year or two to make up that money before I go back. But my question is this: can I even apply for an H1B visa now? I am not sure if I have to be physically out of the US for one year, or just have to be on a different visa. Can you please clarify?

Your response(s) will be really appreciated. Thanks in advance!