I don't know anything about student loans but, in general, debt consolidation is often a great plan for managing finances. I used a consolidation loan to lower my overall payments, reduce my interest, and to give me a plan with an end in sight. Also, if you are undisciplined (like me) then an installment loan with fixed payments forces discipline that a credit card can't.

But be very wary of the Consumer Credit Counseling services out there. These are the ones that sort of take over your bills and you send them one check and they handle things with your creditors. It can sound like a huge relief to somone overwhelmed with debt but it shows up on your credit report when you use these services. It is nearly as bad as a bankruptcy and will kill your credit rating. They should only be used as a last resort.

-Dylan