This may be a good idea if you want a single monthly payment.
You may also be able to get a better deal if, for example, your credit score is better now than it was when you first took out the private loans.
These circumstances are: Borrowers cannot consolidate private student loans with the federal consolidation loan programs.
If you already have a consolidation loan with either FFEL or Direct, you are not allowed to “reconsolidate’, except in limited circumstances.As you weigh the pros and cons, keep in mind that timing is critical.With just a few exceptions, you get only one chance to consolidate with the government loan programs.(see box below), You can consolidate during grace periods.This may lead to a lower interest rate on a Direct Consolidation loan, but only if you are consolidating variable rate loans. You will generally receive your first bills within 60 days after the new Direct Consolidation loan is made.