Most companies will not consolidate private student loans unless they are already in repayment status. Private loans once consolidated, every one that I have seen will not allow deferment or forbearance.I have private loans from med school and was thiking about consolidating to lock in low interest rates but can't b/c I still have them in deferred/forbearance. It seems you can't consolidate private loans until your out and a practicing MD.
Consolidating private loans is much more difficult than federal loans.All the same companies that do fed loans do private consolidations for the most part. The rules and terms are different and harsher b/c unlike fed loans which the government guarantees, private loans that may default are harder to recoup.
If you have federal loans the interst rates reset in June 30th and won't change till June 2010. So if you graduate May 2010 consolidate your federal loans spring 2010 and atleast lock in the low interest rates for those ones. You actaully can start the consolidation paperwork after the federal disbursement in January 2010 for your last semester.
