Re consolidating consolidated student loan
There are (or would be) several drawbacks to a joint consolidation.
If you want to go into deferment (when you temporarily stop making payments, perhaps due to unemployment), spouses must qualify for deferment.
Keep in mind that lowering your monthly payments (by extending the repayment period) will end up costing you more interest over the long term.
However, you can pick the lower payment today if you want, and then make larger than required payments if your income increases. The lender simply repackages your loans so they have the characteristics mentioned above (fixed rate, etc). You might have several loans—one for each enrollment period, so be sure to get them all.
The main reasons to consider student loan consolidation are: Depending on your circumstances, these may or may not be that interesting to you.
You get some special benefits, and you can structure the loan the way you want.
The purest form of consolidation is only available for federal loans, but it is possible to combine private loans.
Student loan consolidation is the process of uniting some or all of your student loans into one new loan.
Likewise, if you’re making your payments without any difficulty, you might have no need for lower payments.
There are a lot of debt consolidation programs out there.
You’ll likely get a pile of mail as you near graduation. If your loans are from government programs, it's often wise to consolidate under the federal Direct Loan program. They may have heard some recent success stories (and horror stories).