A. To mitigate the impact of high interest rates, carefully review the terms and conditions before completing your application. Look for any sections that detail the interest rates and fees associated with the loan. If the rates seem high, consider comparing them with other lenders to ensure you are getting the best deal possible.

B. If you are concerned about high interest rates, consider applying for a smaller loan amount or a shorter repayment term. This can help reduce the overall interest you will pay. Additionally, explore options for improving your credit score before applying, as a better credit score can lead to lower interest rates.