Hi all,
I'm new to all the financial details that are involved with loans. Since I have received my award letter and the interest rate is quite high on the loans I have been offered, I am looking into private banks to help me finance my tuition. Right now I am unclear as to how much I will be able to fund of my tuition due to other expenses and the fact that my parents may be able to help me out a little bit afterwards. My question is that if I were to ask for an amount that is greater than what I may end up using (provided I get assistance from my parents), would my interest be higher or lower? I want to be on the safe side and put in everything that I would need to borrow assuming my parents can't contribute but I also don't want to be in a bad position by getting an interest rate that is too high simply because I initially requested more than I actually borrowed.
Thanks in advance guys!
I'm new to all the financial details that are involved with loans. Since I have received my award letter and the interest rate is quite high on the loans I have been offered, I am looking into private banks to help me finance my tuition. Right now I am unclear as to how much I will be able to fund of my tuition due to other expenses and the fact that my parents may be able to help me out a little bit afterwards. My question is that if I were to ask for an amount that is greater than what I may end up using (provided I get assistance from my parents), would my interest be higher or lower? I want to be on the safe side and put in everything that I would need to borrow assuming my parents can't contribute but I also don't want to be in a bad position by getting an interest rate that is too high simply because I initially requested more than I actually borrowed.
Thanks in advance guys!
