Your alternative to Federal Student Loan Consolidation is Private Loan Consolidation. Most of the private student loan consolidation plans are sort of refinancing for getting out of the unsecured loan problems.   Though all loan consolidations are regulated by the Federal as well as the concerned State Laws the interest rates, terms and conditions of the private student loan consolidation vary from firm to firm. While interest rates with some of the agencies are higher in comparison to others, other benefits they provide may suitably counter balance the deficiencies in their plans.   Therefore it is essential for you to get well acquainted with the details of the offers made by any private company because as you decide to go for the private loan consolidation many companies with come forward with offers. While some of them might look very interesting on the face they may be lacking in intrinsic values. Private Student Loan Consolidation Interest ratesSome of the companies offer their beneficiaries the benefits of the introductory rate for the first year that could be as low as 7. 9%.   Such interest rates are derived basing on the three month LIBOR added with 5% to 8. 5% interests.   LIBOR means the London Inter Bank Offered Rates. Unlike the Federal Loan consolidation you will have to pay fees in the range of 1% to 5% on both your personal credit and co-signer credit. They will however not be due immediately and will only be charged on the closure of the loans. Since they are added to the loans it increases your loan volume but the advantage is that it prevents any further out of pocket expenses that could accrue. Private Student loan consolidation for undergraduatesIn most of the private student loan consolidation plan the interest rates charged for undergraduates are identical.   The primary rate is LIBOR added with 5 to 8. 5 percent interests.   Overall it may come in the range of 7. 9% to 11. 93%.   There will be fees of around 1% to 5% depending on the type of consolidation you have opted for. The maximum term that is permissible is 25 years and the maximum balance for which such consolidation is permitted is $1, 50,000.   For example, if you have a principal of $50,000 and LIBOR rate at around 2. 8%, your interest rate could be in the range of 7. 9% to 8. 1% for 25 years period.   The prerequisites would be fees of 1% and your good credit rating which means you must not be defaulter against any loan as on date. Get private student consolidation onlineWith the Internet and World Wide Web there to help you out getting the private student loan consolidation is easy.   You can get them online.   Numerous traders are providing such loan consolidation facilities and the only task for you would be to find out the best consolidation loan rate student.   You can obtain the free information package provided by the providers on line or visit their FAQ section.   Some of the providers also have a group of experts to enlighten you on various aspects of best student loan consolidation.