Eligibility Rules for Private Student Loan Debt Consolidation - loan.com: "When private student loans get to be numerous and overwhelming, many borrowers look into private student loan consolidation options in order to consolidate the loans into one simple payment each month. Simply deciding to consolidate is not the only step, however-–borrowers must be approved by their credit union or bank and meet certain requirements.
Payment History
The payment of your existing loans must be up to date, and your credit report must be clear, or else you will be too high-risk for the new loan.
Minimum Loan Amounts Must Be Met
With small loan amounts, consolidation is not normally an option. Consolidation lenders prefer customers with larger loans to combine in order to assure profit from interest.
Financial Stability
One must have a solid credit rating and steady income in order for a consolidation loan to be a possibility.
Private, not Federal
Federal loans will not be eligible to combine with existing private loans. They can be consolidated separately.
Out of School
Loans can be consolidated only once the student is out of school and actively paying back the existing loans.
Better Rates
Before consolidating loans, the borrower should confirm that the new interest rate and terms will be more beneficial"