When are you out of school?
As of right now, students can't consolidate while in school. The best reason to consolidate, other than making you have one single lender and lowering your monthly payments, is to lock in an interest rate.
Right now, consolidation companies don't know what next years rate is going to be. The "dooms day" in June 30th. If you are going to be out of school by June 30th, then consolidation is something for you to consider. If not, there is nothing you can do this year ...
The past year, student loans went up a little over 2%, they have been averaging this since two years ago. We don't know if they are going to go up this year since there is a Dem. control of both houses and one of the things they wanted to do was lower interest rates on student loans in the first 120 days.
If you have any additional questions, just ask. Not all consolidation companies are created equal. Some companies give you an interest rate deduction for doing direct payment, while others also deduct after a certain amount of on time payments. I used to work in student loan consolidations, so I know a little on this subject.
