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Applying for a private loan at each semester

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I’m working on getting a private loan for school and I have the option of getting a loan each time a semester starts or get a single loan for each  entire academic year.

 

I’m in a situation where my school fees are reimbursed,  so I should be able to pay back each loan within 6 months to 1 year.  

 

To me,  it makes sense to apply each loan separately so the interest doesn’t get applied on the annual loan (I think that’s how the interest works?)

 

Has anyone does this and do you foresee any potential problems that may come up with having up to 4 smaller unpaid loans at a time? 

 

Any my issues that can come up in terms of problem with the future school loan,  credit scores hits,  problem applying other loans for  other things like cars etc etc

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