President Bush has also made it a bit easier for you to do so. The old law stated that you has to consolidate your federal student loans with the same entitiy where you received your original student loan and it was a pain for some to try and figure out where that was. As part of an emergency spending bill signed recently by President Bush, Federal student loans can be consolidated with any lender meaning you have one less excuse to get this taken care of right away..
From Saving Advice:
For example, Stafford loans will rise to 7.1% from the current 5.375%. Borrowers who consolidate loans they're already repaying can lock in this rate if they do so before July 1. For those that happen to be in their "grace period" (the six-month window between graduation and when they're required to start making payments on their student loans), they can lock in an interest rate of 4.75%.
There are only a couple of weeks left, so put it on your calendar to get the process to consolidate those loans moving today.