Granted, a smaller loan amount would mean a lesser payable interest amount.
Higher interest rates can significantly increase your total payable amount at the end of your debt.
If you have an excellent academic record, chances are you might be eligible for scholarships at specific institutions.
If you are an undergraduate student, consider applying for Direct Subsidized and Unsubsidized Loans.
Your capacity to pay back the loan depends significantly on the repayment period.