When you fill out a consolidation application we have to send what is called an lvc (loan verification certificate) to your current lenders. Federal law mandates they respond within 10 business days of receiving the lvc so they invariably put it in the mail on the tenth day. Some lenders are more cooperative than others. Schools will almost always fax them to us the same day they are received, most other lenders try to stall. Why? To give their sales department time to contact you and try to get you to consolidate with them. If all of your loans are with one lender and you are consolidating with them this step is eliminated. Once we have all of the necessary lvcs it is sent for funding which varies greatly by the lender. Our current lender averages about a week to fund, our last one took more like three weeks (which is why we switched). From there it usually takes 1-2 weeks to get your new payment information to you and your first payment is usually due in 30-60 days.
To be fair lvScRb23 I would bet anything you work for Student Lending Works, you should disclose that on your posts advising using them.