If you're worried about the potential effects, you may want to apply for the new loans and the consolidation at the same time. I'm not sure of a lender that will assist you in consolidating private loans, but there's gotta be someone ouot there. It certainly won't be as easy as the Federal program though. Unfortunately most of us don't have access to the other consolidation sources (home equity is an example). And to make matters even worse, there's been talk of the Federal consolidation program being altered and/or eliminated, meaning you wouldn't be able to easily consolidate those either.
More bad news..you will almost certainly make sufficient income so as to disallow the student loan interest deduction (unless you pursue a public interest career). So not only will many of us incur a substantial sum in these loans, but we will not be getting any tax breaks as a result. Happy Tuesday.