I consolidated with Nelnet since they are the primary provider for the bank that loaned me the money. If you have more than one bank then u can go with any company but if you only have a primary one you have to use their consolidation company is what I've been told.
The interest rate is suppose to be the lowest when you are in your grace period (within 6 months of graduation). Basically all company's follow the same rate based on federal guidelines, but they can offer incentives. For example, nelnet gives an option that if you make electronic payment then they reduce your interest to .25. If you make prompt payments for 36 months then you can get a 3.33% principle loan reduction or choose to make 30 payments to get 1% interest rate reduction after 36 months of payments. You can chose one or the other but not both options.
So before the 30 or 36 months your interest rate is i.e. 2.8-.25=2.6 and then your options will go into affect after 30/36 months so it can be reduced to 1.6 or a 3.33 reduction off your principle loan.
Basically it's a good time to consolidate right now before June 1 since that's when rates are suppose to go up again. Once you consolidate you lock in that rate and will be paying less money each month and can have a longer amount of time to pay for it.
I hope this helps a little bit.
Note: I hear sallie mae is another popular one to consolidate with.
